Better in some areas...
This is an improvement over the last one in a fair few areas (the only real redeemer of the last one being the intro) but it still feels somewhat forced.
Graphically it's an improvement, not many can deny that (well, as good as you'll get with 8 bit sprites anyway) and the use of effects added a bit more, but some of the voice work still feels forced. Ohmadon (sp?) in particular was the most noticeable. I didn't really feel as if I could hear someone struggling in anger to attack. I don't know what VAs do for practise, but maybe if he did a few lines before actually moving to the acting itself it might improve.
A lack of background music took away from it a bit too. If you compressed it enough, a short loop of the town music could fit in with no problem. I'm not sure if that's what brings the filesize up so drastically or what, but I'd hazard a guess it might be. Then again, what with the comic itself being extremely dialogue-heavy it'd account for a lot of audio files being in there.
The ending felt somewhat rushed too. Sort of seemed like the author was getting bored and decided to cut it short or something, I dunno. The extra scene and easter egg were OK, but the credits just felt tagged on at the end to quickly wrap it up. I found some of the outtakes in the earlier ones fairly amusing.
Overall it improved in some aspects but still has a way to go. Props for the nice effects (the White Mage destroying Black Mage scene in part 4, one of my favourite scenes, was poorly rendered in my opinion; this one sort of makes up for that) and for keeping the filesize below 5MB this time though.