P3P is by far my favorite Persona game. It's quick and painless to get through compared to FES. I've definitely put the most hours into it out of any game in the series because it actively encourages replay. The female protagonist dramatically changes many of the interactions you have throughout the game, and it was fun to try to figure out how to max all social links in one run for both protagonists. It also has the combat improvements from Persona 4 and cuts out a lot of the more frustrating aspects of vanilla P3/FES (characters bailing from being tired, reverse social links, etc.).
The only cons for me are the low-res 2D graphics, which look great on the PSP's screen but rough if you are upscaling it through emulation or TV-out, and the lack of in-engine and FMV/anime cutscenes (I end up watching them on YouTube if I want to see them). It is also missing The Answer, however that's really not much of a loss for me...it's a pretty poorly written, grindy, and tacked on feeling addition to FES that I can do without. If that is something you want to play, you can play The Answer on its own in FES, which is available for download on PS3 if you still have one.
FES is still a great way to play the game, and I won't say no to a remake with added QoL improvements, but a straight port with no improvements would be rough...it's quite frustrating to not have fast travel, direct party control, limited dungeon crawling time, etc.