Compared to VI Advance, its nowhere near as bad. Its negligible if you ask me, and I've never really saw the complaint with the graphics cause the games just became a few palettes lighter which frankly I felt FFV needed.

Besides, if its going to be those fuggly sprites, and lame CGI spell effects that make all the tier magic look the same, from the PSP ports; then I'll take the washed color and uber midi OST from the GBA.