An excellent addition to the XB franchise. I'm about 100 hours in and there's still tons to do. The size of the areas are almost overwhelming, but they're all unique and fun to explore.
(I keep getting sidetracked and now I'm really over-levelled!)
The characters are loveable and it's the first game in a long while that's had me so invested in playing it. At one point I couldn't put it down - I was tired at work the next day!
If you haven't played 1 & 2, I don't think it's entirely necessary. I've only picked up on a few landmarks and references (So far!)
I highly recommend this game. But I would check gameplay videos first if you're new to the series, I know not everyone likes the battle system!