I really think the playables killed it. They sapped so much potential emotion and drama from the story and a lot of them are just a character design vehicle.
You can do huge casts well-- Suikoden does it. But in Suikoden's case, both the plot and gameplay integrate the huge cast beautifully, and that's just not the case with CC.
Also, wtf was with JRPGs in the PS1 era infodumping you huge amounts of needlessly obscure information in textbox form? I'm all for poetic allusiveness and esotericness, but show, don't tell is something CT does so well. Why did CC not learn this lesson?
Oh well. The music kicks ass.
Yeah, you nailed it with the info dumping. The second half of the game is a storytelling disaster, because the pace is way, way too fast (plot/event wise), and, as you said, the dialogue an exposition aren't handled well, ramming too much down our throats, instead of handling it subtly.
Anyways, what Chrono Cross needs is an enhanced remake, preferably for the NGP and 3DS, with a full fledged grapical overhaul, like the Final Fantasy games on the DS. More importantly, though, is that the game needs to be finished. I'm of the opinion that the developers ran out of time with the original game, and couldn't get everything they wanted to in the game in a satisfying manner. That would explain the info dumping, convoluted plot, ridiculous pacing, and that rushed ending during the second half of Cross. If this game gets a remake, not a port, this would allow Kato and the other developers to fix the storytelling flaws, add the extras the CTDS has, and even add more dungeons, areas, and story arcs for some of the characters. Other than that, the game needs a faster battle system and better battle music.