I finally had time to sit down and finish this one. It rang up at 47hrs, but that includes side quests, the recent downloaded quests, and ~95% of all upgrades (100% with Ellen, 90% with Keats). I have to say I am a little let down with the ending. It didn't make a lot of sense and it was quite brief. No ranking, did not tell me how I did in the grand scheme of things and after a lot of build up and a great story, it didn't deliver a "big" ending; it sort of fizzled out quietly. The final boss was a surprise, though not entirely unexpected, but the battle wasn't as difficult as I would have expected - unlike Genji (the same engine that Folkelore used) where I literally spent hours trying to beat it and the battle itself was at least 45 min to an hour. This one took me 3 tries and maybe 20 min.
The downloaded quests are actually much more challenging that most of the ones in the game as they deviate from the game's "rules" in that the characters have modified abilities or significance to your quest like: beat the timer, absorbing one enemy extends time while another takes time away, or a particular enemy has takes 20 times more damage to defeat.
Replayability of the game itself? Looking pretty slim. Additional quests via download? Definitely. Is it worth $50? Yes, but you have to be interested in the genre.