But the truth was that doesn't have much new things compared to Sword of the Seals, perhaps Intelligent Systems had little time to add more. Anyway, Fire Emblem became more popular thanks to this game and was very valued outside Japan, because of this the following will also come from there.
As mentioned the developments are minimal, except a few things, like three Lords, a more complete tutorial, many CG images (and of better quality than before), better music ... and a few more, but took off a few like the Trials maps, secret characters, and the difficulty is minor in the American and European version. But like all others FE games it has a strong gameplay, which still holds always, making a good game.

Speaking of the story, this game takes place 20 years or more before the Sword of the Seals, so several Character's parents of the previous game and some younger appears here, so we'll learn from theirs past. The Lords of this game are Lyn, Hector and Eliwood (yes, the same but 20 years younger).
The story, like the Fuuin no Tsurugi, begins about 1000 years after a war between humans and dragons. But much time has passed since that and now the story focuses on Lyn, a girl who lives on the plains of Sacae in the continent Elibe. She was one of the last people of an tribe of that place, but one day discovers that is also the only heir to the throne of Calein. But the brother of her grandfather, the current Marquess of Calein, wants to prevent this so that he be the only heir to the throne.

This is only the first part of the game, then Eliwood, Hector and Lyn will discover that something more happens on the continent of Elibe... that could make the Dragons return to this world.

• Introduction of the game:
"Once, dragons and men coexisted. They shared a peace forged in wisdom, a peace that lasted many generations. All that was lost when mankind disrupted this balance in a sudden onslaught. Man fought dragon in a savage war that shook the foundations of their world. This war was called The Scouring. Defeated and humbled, dragons vanished from the realm. In time, man rebuilt and spread his dominion across the land and on to the islands beyond. A millennium has passed since those dark days ended."