Read any DS review on this site and you'll likely stumble across mention of the system's lack of 3D prowess. The Wizard of Oz manages to squeeze a really impressive set of visuals out of the system's limitations. Assets are used and reused a lot throughout the game, but repetition isn't as bad as other games. There's still a lot of variety packed into Oz. Areas are bright, characters are likeable - it's a good situation. The only major downside is the lack of really crazy Oz-specific enemies. A few enemies fit the world, but most seem like they were culled from other RPGs. It's a minor complaint, but when you consider the source material, it's a letdown.
The only real reference to the film comes from the first few bars of "Over the Rainbow" played over the title screen. The rest of the game features typical JRPG music. You've got the Japanese theme song (which kind of sounds like something from Wicked, but this may be coincidence) and synth -filled music pushing you through the game. It isn't memorable, but fits the world better than some of the enemies you'll encounter, so there's not much to complain about.