.....It could very well be- if you're into JRPG's and anime in general, then it's likely this will be the big shiny jewel atop the PS2's crown for you.
For those who don't know- this version is essentially a 'director's cut' of the original Persona 3- which became my favourite RPG ever (until this version came out, of course.) It has everything he original had, plus more- more characterisation, more Personas to find/create.... but that's not the main thing. This version contains the extra chapter- "The Answer," that take place after the main story (called "The Journey") Yeah- that's up to about another 30 hours play time crammed in with all the other extras!
The story focuses around a young hero (you) moving to a new city and transferring to a new school where he soon discovers he has a power called "Persona"... a power that allows him to enter the "dark hour" and fight enemies that only people with the power can see- the Shadows. He find he's not the only one with such a power and joins a school group that fights the shadows for the sake of..... well, you'll find out. ^_^ Unlike his fellow Persona-users though, the hero has the ability to command up to 170 different Personas! But the game's not all about fighting- half of the game is about going through a year in the hero's life in school- making friends, girlfriend(s) :), and various activities- it all adds so much to the game's overall experience and creates an incredibly deep world full of characters you will feel a real attachment to. And that's what an RPG should do, right? ^_^
To sum up: it's an incredible game and well worth getting even this late in the PS2's lifespan- it blows many 'next-gen' RPG's clean out of the water. The modern japanese, unique, and often morbid style of the game (did I mention that the character's summon their Persona's by shooting themselves in the head?) will easily appeal to anime fans, and even if you aren't a said fan, you're still getting a near-flawless RPG.