That would be awesome ... maybe if there's a sequel or DLC as "raikou" sayd ... I would like to see some others too, like Asheley Riot and Romeo Guildestern from Vagrant Story, Chrono and Magus from Chrono Trigger ... well, the possibilities are endless ...
Just thinking earlier about how Lavos could be incorporated. Perhaps his final form as normal, and then a regression into his inner form for EX Mode, then the space porcupine for the EX Burst. The "Alternate" look could be full-on Toriyama style.
I think Delita would fit more into the villain role. Anyways, I expected an epic duel between Ramza and Delita and never got it, this would be a good chance.
Ramza would have to be completely nuts if you know what you're doing with him.
Think of what he could do with just his reaction abilities. Just off the top of my head, Hamedo, Blade Grasp, Speed Save, Dragon Spirit, Meatbone Slash, Sunken State. Any one of them would probably be pretty broken.