I used to have the VHS a while back. It's really not that good at all. If I can remember correctly, it was really short and the voices really weren't that good. The story wasn't very well developed. I think it took place around the time of the first game on the Saturn. If someone could verify this, since I don't have it anymore and haven't seen it in many years.
Well, Panzer Dragoon is ok. I have the original, and it looks good, and follows the story from the first game. Then suddenly, it missed about five levels from the game leaving only the intro and the ending left. This makes it very short. If it had been about an houer more, i would have been quite good. As mentioned, the CG really looks cool.