FF8 is one of my all-time favourite games, and for me an absolute high-water mark for Square.
That being said, I have to admit to feeling disappointed on my first playthrough. I felt it lacked a real villain, and the plot was oddly episodic, lacking the sheer opera of FF7's sweeping dramatic moments. Over time I realized how completely wrong my perceptions were, and how special FF8 is as piece of work.
What's most unusual about the game is that despite the bombast of the visuals -and quite honestly, as an artistic showcase it was so far beyond the competition at its time of release it was almost unfair- is that at heart its quite a small, personal story.
I could rant on for paragraphs about all the things I love about this game, but ultimately what makes it special for me is its warmth. There's a sweetness to it that I've never seen replicated in another FF title.