I finished Xanadu Next and I really liked it. It's a shame it didn't sell very well and I don't see any talk about it even among Falcom fans, since it's a really good game.
It's pretty different on the surface from all the other Falcom games I've played, but its got a lot of fundamental similarities to Ys. It's got the same great dungeon design, where dungeons seem really confusing and overwhelming at first but they very quickly start to make sense as you explore them, except taken even further. Whereas in post-Napishtim Ys you can eventually freely warp from save point to save point so dungeons can mostly exist independently of each other, here you can only freely warp back to town one-way so every dungeon has to have a point that can become easily accessible from town so everything has to eventually loop back together in some way (i.e. at the end of the first floor of the eternal maze, you can unlock a door that allows you to get to the second floor directly from the town). It's neat and makes things feel all connected.
Honestly, there is a lot of Ys-like stuff, too. The way the story focuses on a long-dead civilization, and how you can collect and translate records from that time to learn about the past which ties into the main plot... Hell, there's even an accessory that's literally just the Mask of Eyes, only is actually gets more use than the Mask of Eyes ever did in Ys.
The combat is pretty different, though. It's a lot slower since it's more focus on exploration than action, but I enjoyed all the dungeon crawling and puzzles. I really liked a lot of the RPG elements as well, I feel like out of the Falcom games I've played this is probably the closest to a "traditional" RPG as far as character building goes. I never really used it, but the ability to go down a level to respec your character is pretty neat.
I'm planning on tacking the very daunting bonus dungeon next week, but for now I'm just taking a break. Still no release date for Zwei II, so I might have time to eventually pick up 7th Stand User before then.