I've two ideas that would significantly improve playability of the game.

(1)
Auto-target (Idea from Star Ocean (PS2))

Since this game is all about positioning, we need a better way to target. The new targeting system addition was in the right direction though me like others have found a problem with it. I use to press down to target myself then choose an alternated target from there by selecting left of right.

To counter this problem simply make an Auto-Target function.
This could be modeled after Star Ocean: Till the end of Time (I don't have the new one atm though I think it was the same).
When either the target party, target friendly or target enemy targeting group is selected, the target cursor will automatically appear over the nearest of that target type.
You will still need to lock onto target to bring up the action bar, though it'll be much easier to make position. Simply run towards a target, the cursor will appear above them, then select them to bring up the action bar.
(***If you make this targeting feature mostly related to line of sight, it'll be easier to work with and will help you avoid complaints)

(2)
Sub-Target for all actions.

As it stands now it is very tough for a tank or anyone else to keep hate during multi-enemy battles.
This same fix would also greatly improve the use of abilities such as Shield bash and puncture.

Basically during battle it would be very convenient if we could bring up a sub-target cursor to change the target of a single attack.
This could/should be done by holding an action on the action bar, doing this would in turn pop up the purple sub-target cursor, allowing you to select a new target for this attack (without needing to go through the clunky unlock, switch target, relock on new target process).