A tad cliche for my taste
This is obviously inspired by anime, which isn't necessarily a bad thing. The story draws a lot of elements from shows I've already seen. It seems a bit hokey, and while I won't pick a part the entire plot, that Knight test seems rather convenient.
The way it was directed was pretty well done though. I enjoyed the angles that you chose, and the story flowed well enough for me not to get bored. However, the "buddy-buddy" way in which people interacted with each-other was obnoxious, and the dialogue of the guy who bought the sword and shield (can't remember the name right now) was painful to listen to.
The art direction -again- is obviously anime based, and for the most part gets the job done. I feel like you sell yourself short, and rather than spending time on characters and backgrounds, you are more focused on movie length. Also, the faux-3D effects were a bit over done, and ended up being distracting.
Voice acting wise, for the dialogue given to them, they were pretty decent. I was very glad to hear a female voice that wasn't Rina-Chan (though she was in it as well, of course), and the "????????" female, who was voiced by I think "Emma", was excellent. The rest (other than the obnoxious Red Headed Guy) were pretty good.
Lastly, you should seriously consider re-vamping your subtitles. The Border around them is distracting and un-necessary. You also don't need to have the persons name who's speaking, as well as a different color text for each person. I can hear who's speaking, so I don't need any more visual clues. Also, consider adding the ability to turn subtitles off. If you need to know how to do it, I can help.
Any ways, over-all a good effort, but not exactly the most unique or interesting story. Good directing, decent (for the most part) voice acting, O.K. art, and distracting subtitles. Good luck with the rest of the series.