I absolutely loved it, especially once I got used to the combat mechanics. They're similar enough to Shadow Hearts that I wouldn't be at all surprised if the SH team considered LoD to be an influence.
I do remember when it came out though, and tons of reviewers tore it to shreds, more or less over the fact that it wasn't Final Fantasy VII. Sad, because most of those exact same sites now treat it as one of the best PS1 games.