Here's a trailer for Ragnarok DS. It looks pretty much like Ragnarok Online except if you wait a bit you get to learn about the exciting touch controls and Ragnarok Online exclusive item you get with the game. It pretty much looks like the original game except on a smaller screen, which should be good news for the massive install base the game already has.
For those unaware of what this whole Ragnarok thing, it's a massive MMO with millions of players and now XSEED is bringing it to the DS. Of course the MMOing won't be quite as possible, but you can join with two other people via the DS's wireless capabilities and rock out with your own adventure. Excuse my lack of enthusiasm here, but it's looking like if you aren't interested in the PC game the DS version won't be that much of a draw either.