First of all, Gabe over at PA has finally seen the light (scroll down). The gambit system is strictly superior to the traditional FF combat management.
Rather than continue to prattle on about how much I'm enjoying it (read: a lot), I thought I'd do something different, and list the builds I'm using for each character. The leveling system gives you a great deal of freedom to specialize (or generalize) the abilities of each character. I have a few misgivings about the positions of some of the tiles on the license board, but beyond that I've been very happy with it.
Oh, if you think the character list is a spoiler, don't read, but since it appears in the friggin' manual, well, deal.
Vaan - MNK/WHM - High attack power and evades, weilding a pole (think shovel), and supporting with healing magic as needed. When I really want things to die, I set up gambits on my casters so that he's constantly buffed with Berserk and Haste.
Balthier - THF/THF - Steals stuff, uses lots of items (like a chemist) and wields a gun so he can hide in the back row. Bang bang. Gambit "Enemy HP 100% -> Steal" ftw.
Fran - BLM/WHM - Lots of attack magic, lots of heals. Super-nukey-doom, plus a good bow so she can still fight without getting into the thick of it.
Basch - PLD/WAR - Yeah, he's my tank. The best armor and weapons, plus a few healing spells so that he can look after himself. I often run a gambit keeping him buffed with Lure, since he's so much better at shrugging it off than anyone else.
Ashe - RDM/SAM - A huge spellbook with tons of support magic, and a competent physical combatant to boot. Either fights with a sword and shield (when the extra defense/evade is needed), or a big friggin' katana. She's versatile enough that I use her as a party leader whenever Vaan is out, 'zereked, or just dead.
Penelo - LOL/ROFL - Penelo is a little funny. I've had her in my party for a while, but still haven't found a good niche for her to fill. I've given her a bow which she fires from the back row, and she can cast a level 1 cure, but nothing else. She's a RDM in the 8-bit sense -- can't really do anything, but has tons of potential. I'm sitting on ~1500 license points at the moment, and that number keeps on growing. . .
Aside from going out each day to dance some Rueda, FF XII ate up my entire weekend, and I'm glad for it.