Yeah, it's slow as smurf. I mean, I'd gladly take, say, FFIX's battles over XII's any day, even though it's slow as smurf too. XII beats you over the head with how slow it is. Sure you fight the monsters right there on the field, but the gauge takes so long to fill up for you to attack that every fight that isn't against a monster that can die in one hit is just one long dragged-out snore-fest.
It wasn't a problem in the other games because the gauges filled up faster, the attack animations completed faster, and on top of that the games were more linear. But if you take a more open-world game and slow the battles down to the point where you feel like you're losing brain cells, then yeah, it's no good.