I reached the end of the demo, including defeating the optional boss (after I had dealt with that, the bozo at the end of the cave stood no chance). I had fun. Aside from that one boss, it was very easy - the attack command was enough to handle almost any encounter with minimal damage. However, this lends itself to a more breezy and relaxing playthrough, which might be what you were going for. I did find that the offensive magic and special attacks were generally too weak to spend MP on, aside from Sky Ninja's slash move.
I found the graphics overall appealing. I am not sure how much if any art is original vs. how much is stock RPG Maker, but this is more the era and style of what I think RPG Maker should look like. I find the newer 32-bit-ish RPG Maker graphics distasteful, so I'm glad you stuck with the classic look. The player combat sprites in particular are charismatic and cute. The anti-aliased portraits do feel a little mismatched against the sharper pixels on the field screen (that may be RPG Maker's fault), but this isn't a big deal. I did recognize some of the music tracks, which I don't think I've heard in the 25+ years since I was playing with RPG Maker 95, so that was a nice bit of unexpected nostalgia.
One thing that bothered me was that the dialogue boxes lack contrast; the light blue font on the translucent blue background is a little hard to read. The menu is better, so I think either a brighter font or darker dialogue box (or both) would improve readability, if that's possible to do.
I didn't find any particular bugs to speak of, other than this incorrectly Z-ordered plate of food. There's the occasional engine quirk, but from such an old version of RPG Maker, that's expected and forgivable.
I didn't seem able to do anything with the comb in the desert, so I'm not sure if it's for later in the game, or if I just missed something. The flame talon as well I'm guessing has some future use.
