If you liked PSO and PSU, this game is probably not for you.
Don't let the improved type and combat system fool you, it actually hurts the game.
PSU players are probably familliar with the "Just Counter" feature, in PSP2 it is triggered manually by blocking at the right moment for doing a "Just Guard" which is just like the evasion in PSU, after that you can perform just counters. It hurts the game because being able to do it manually and without any restriction means that you can theorically avoid every single damage and counter, redering any defensive stat meaningless.
Speaking of defense, if you want a challenging, hard and fun game, then do not play this game. You will die, a lot, and when you do it's usually because some monster one shot you or stun locked you, and you are only allowed to die once per mission.
Among the cheapest things in the game, bosses for one, don't expect finishing the solo campaign straight without ressorting to cheap tactics such as using the long range rifle while standing in the corner where the boss won't attack much. Expect to see monster spawning right at the start of a block and attacking right away while the game is loading your weapons, making you wait a few seconds without being able to retaliate. Also, expect to see Bil de Bears flying above you, disapearing and being reset when you try to use your blasts, giving them their one second invincibility (like when they spawn) which is well enough to make your blast pass through them.
And, as said earlier, unless you are far above the level of the monsters, expect to die in a few hits.
I don't recommend this game to anyone, if you want an insanely hard but fun game try Monster Hunter or Demon Soul.
Phantasy Star Portable 2 is not hard it is cheap, only play it if you are willing to spend hours learning to just guard everything, rendering the already bad combats boring. And also expect hours and hours of mindless leveling.