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1) Does casting Haste on a character and Slow on the enemy last the entire battle?
2) Are there any rewards for frequently using limit breaks (that is to say, new limit breaks or something) or can you just horde them the entire game for boss battles?
As far as I could tell, haste and slow last the entire battle unless:
Dispel is used.
The character dies and is revived.
I can't recall but using the opposite might nullify the original.
If by Limit Breaks you're referring to the Overdrives: Then yes. Tidus learns new Overdrives by using his. Don't hoard your overdrives, you can always refill the meter fairly quickly if you set out with that goal in mind.
tidus gets his overdrives by using them wakka gets his as a prize from blitzball kimari learns them by using lancet on some of the enimies rikku starts of with all of hers so you just need to find the right combination.lulu gets hers by learning new black magic spells auron gets his by finding auron jecht and braska spheres (like the one in macalnia after fighting spherimorph.)yuna gets hers by getting new aeons and i think thats everyone apart from seymour who already has his and also valefor has a second one that can be learned in besaid.
there are many things that will get rid of your haste, and an enimies slow such as
-negation abilities
-dispel
-peterification
-using the opposite
-both sides have the same (if both side have haste/slow on them, it will b like a normal battle)
-character dying
-immunities
&
-reflect
thats all ive noticed that will get in your way