Mizzurna Falls is certainly up to his legend, it is amazing. It has lot of mechanics, unbelievable graphics for Playstation, real-time mechanics, more complex NPC behavior than Shenmue and many other details.
That video is missing the first fully playable translation of the game (into Spanish) by Mr.Nobody. It was available like a year before the final English translation by Cirosan & nikita600.
Mr.Nobody is also translating the other two most-awaited translations for Playstation: Germs - Nerawareta Machi and Manic Game Girl.