So, I recently started playing SMT IV, and while I'm enjoying myself so far (advanced filtering in the Demon Compedium is superb), I kind of wish Atlus had developed the game for a more capable console. Not only I wasn't a fan of playing games in a handheld, but I feel that the visual novel-styled presentation is a step back from the timeless expansive level design of Nocturne.
For example, Nocturne can look like this:
While IV look like this:
I have a somewhat higher expectation out of SMT V since it's the return of SMT to a home console with a decent hardware to back it up. Hopefully they'll keep the QoL improvements from IV too.