In my opinion, all Klonoa music is just... Good... Just... All of it I love so much
Since I haven't listened to Lunatea's soundtrack outside of playing the game like I have with Phantomile's, my opinion is going to be skewed, so I'm not going to try criticizing LV's ost to make Phantomile's look better because that wouldn't really be a fair assessment. I can, however, praise Phantomile's ost.
What I love so much about it is how each track is so unique and so perfectly describes each environment on an auditory level, and some of the tracks, like the level before grandpa dies and the time of restoration, evoke a sense of urgency and really makes you want to press on into the game (as if the game being rediculously fun and beautiful wasn't already enough
) some of the tracks even feel like a mix of ambiance and music, which is a nice touch considering how many natural locations this game takes place in.