I have to say, Im actually really impressed with this game. It plays kinda like continuous Final Fantasy battles, with an interesting action point mechanic, and the ability to instantly make a party from 9 different classes.
UPDATE: Apparently the developer is already working on an item system, more skills, and additonal campaigns. I still think a loot system would be great though.
Plus, this latest update brought Game Center multiplayer! Awesome!
StriveMind about Pixel Fighters, v1.1