I just have to say this looks pretty amazing so far.
I really do urge you to stick with the smaller sprites though. With a name like "Wander", you really do need to feel like you're in a big, open, world and the smaller sprites allow you to feel small in the world (akin to the original Zelda on the NES where you actually DID wander). The ratio of character-to-screen seems more ideal to the smaller sprite size due to this fact, and the smaller ones are definitely more mysterious than the larger (easier to read) sprites.
I've been having a hankering for an RPG-style game like this for a really long time. Like Zelda, the style screams mysterious and epic. This definitely needs to be made. Some things I've read regarding the story don't quite do it the justice it deserves, but it's not far off the mark regardless. I definitely like the direction you're going with this.
Have you ever played the Illusion of Time / Gaia? Not quite the same thing in visual style, but it does have a similar mood/tone as what you're going for on some level I think.