It isn't quite as hard as some other Megami Tensei games, but still puts up a lot of challenge even to experienced players and isn't afraid to punish you very heavily for your mistakes. I also found that the difficulty curve seemed more natural than some of the other MegaTen games that I have played, there wasn't any point that really represented a gigantic spike in difficulty.
While it has aged in the 16 years since the original Sega Saturn release, mechanically it is still extremely good. Demon negotiation and demon fusion is excellent just as it always is. The loyalty system is neat, but can cause frustration if you don't have it entirely under control.
The cyberpunk setting is interesting, and the cast likeable. Highly recommended to people who like SMT and other dungeon crawlers.