My suggestion, new battle system. Not just "ooh look I hit dir+s and it shows a different attack with different pow" o.O. Rather, you have attack combos (think Zelda, PSO, any fighter game, so many other games I don't remember) that are divied as thus;
-strengths-
low -> quick
medium -> medium
high -> slow
-directions -
high
middle
low
sides (straffing)
obviously a full array of attacks would be sever overkill for Graal (2d sprite game = hard to tell what is going on with complicated attacks), so maybe just kill the high and low attacks (where you are attacking) and keep the quick, medium, and powerfull strengths with head on and side attacks. This would allow battling to be much more fun and less of a hit-n-run type deal (you can still hit-n-run but that would be your choice).
EDIT(forgot about the combos): when you hit 3 strikes in succession, the time to attack is lessened on more powerfull attacks and weak attacks are strengthened (either like PSO where you can do combos anywher, or like WW where you have to be hitting something to do a combo (I prefer WW myself)) it would also be cool to have different ganis stringed together for the combos, slice horiz left, horiz right, jab or so
Instead of the WC/AC system *cough*makesGKitembased*cough* base them on players level directly. It seems silly that one could get strong weapons/armour and bless/EA/IWD it out the arse and restart their char, get the items back and lvl up to 20 in no time at all. Kiling the system altogether isn't really neccessary either, since you could just limit the effect items have on your WC/AC and just tie it to your char's level (AC/WC + lvl*someconstant.75orso). That way items still have an effect, but not as much.
These suggestions would require a hefty renovation of the current system, but it would make a better game IMHO. (current replay value of GK = null, save for the community... y'know cause there are soo many cool/nice people

)