It never ceases to amaze me how with new, and generally expensive, hardware comes mediocre, and generally sub standard knock offs of cheaper games. Last Alert is no different.
What sets Last Alert apart from every other over head shooting game (and there are many) is the anime-style story line complete with cut scenes including real actors. Did I say "real" actors? Sounds more like they grabbed some interns from around the office and cast them to do these parts. The voice acting is truly horrible, it even goes a few notches further annoying. (If you wish to experiment, there are examples of these horrible voices on this site.)
As you fight through six extremely unoriginal levels, firing weapons ranging from dull (hyper pineapple) to super dull (heavy machine gun). The graphics don't scream at you, except for the "alright" cut scenes, that have a tendency to need to load mid word. And to add insult to injury, the makers of the game have chosen against making it a two player game ... even though many of it's predecessors featured that option.
So, buy a expensive get better games? In the case of Y's Book I and II, you bet, but not ever game is solid gold. Last Alert isn't the worst game ever, but it's the a lot closer to that end than the other. Avoid.