I don't know exactly what he says, sadly. I can't fully read Japanese. I might be able to get it translated later, though.
Anyway, there is no Beastiary in Eltale Monsters. You can get up to 3 of any Item from Enemy drops. There are now critical hits. Whenever a stat goes up, the appropriate element aura shows up.. Water is tied to Magic, so when your MP goes up, a blue aura appears(for example). Magic is about the same otherwise. Your other stats besides HP go up at a higher rate. And there's a new cutscene at the end.(for this last part, I need to have it translated, because I might be mistaken from this)
Some NPC's give different items too. First one gives Honey Bread, not a Fresh Bread, so you have to go with Enemy Drops for that one. Likewise, Mint Leaves are given early, so Dew Drops have to be fought for. You can also read signs, but they're in Japanese. XD
Japanese version of Quest 64. And quite different in many ways.
Also, the double attack works in it. I haven't tested it out in the American version yet. Apparently you gotta hit A enough times. I have no idea how exactly it works in the JP version, as I don't own the cartridge. Yet.
Hp is tied to fire and water is tied to mp in this. The enemies seem weaker You gain stats faster. When you gain a stat you shine an aura for its associated color. The battle ring is different. hitting stuff with cane gets an animation on impact.