You should definitely pick this game up, regardless if this is your first time playing it or have played it before on PS1. Script wise it seems to be almost identical to the original on PS1. But, there is voice acting in this version of it and quite a bit of it too. I feel the voice acting, what I've heard so far is definitely more than tolerable. In fact I feel it's quite good. Transition between scenes, as well as into and out of battle is definitely MUCH smoother and faster than I remember. I hope I can actually finish the game this time as I've never been able to finish it. I probably got two-thirds of the way through last time I played but that was 10 years ago so we'll see. While I'd love to get it finished by the time SO4 gets out next week I highly doubt it as I remember the game is not exactly short.
Sound wise it is excellent but the music isn't re-made or enhanced. It is the exact original soundtrack from the PS1 as far as I can tell.
Play control wise it seems to be on par with the PS1 version, it's no better or worse.
Compared to Star Ocean 1, there is a LOT more story in this game. SO1 seemed to be a more simple story. There was a storyline but it wasn't as deep as in this game.
Overall, if you love RPGs and especially if you like the Star Ocean series you can't go wrong with Second Evolution.