First Person VS Third Person RPG

[Skyla Doragono]

I mentioned before, but I'm planning for my latest RPG Maker project to be a first person dungeon crawl RPG. However, when I proposed this to some of my friends on plurk, I was met with opposition, many of them saying that first person for an RPG was "too hard", and that it was too easy to get lost in that style of game.

So I'd like to ask you guys which one is better: the first person RPG like the original Phantasy Star or Shin Megami Tensei, or the top down third person like nearly every other 2D RPG out there? Which do you prefer, and how you feel one could be unique over the other outside of the camera view?