Ok this is the real deal :P

The battle system is like XII's. You see a monser, and your charaters react. You do not enter a battle screan like Star Ocean. According to Wiki, your character can queue up to five actions. For example, 'attack' 'fire' 'defend' etc, etc.

Each one of these attacks (or actions) are assigned an ATB value. Once the ATB gague is full, you complete the action on the top of the list.

There is also a mode you can enter called "overclock." It is similar to FF IX's Trance. You are englufed in a blue aura and I am guessing your attacks are given a boost while in this mode.

Can't wait for this game!