I don't think Phantasy Star Zero on the DSi will do the series any justice. The DS is just too under powered. Not even up to the specs of the original Dreamcast version. Although the screenshots do shot that they have done a fairly good job of the visuals, and retained it in 3D.

As for Phantasy Star games being a grind. That isnt true. The problem is that unless you have played one you can't quite understand what they are, and just explaining about the series doesn't give you the experience. It is very hard to explain, but the series has a strange special feel about it. Yes, for the majority of the game you are taking missions and doing them in exactly the same levels each time (a bit like playing a Mario game I suppose), but the Phantasy Star games do something that you can't explain. They are great to play. And getting the chance to do the missions online with multiplayer parties takes the game up to a whole new level.

Phatasy Star Online on the Dreamcast is still the best online multiplayer game I've ever played. And Phantasy Star Universe is very close to matching it.