I've just finished the first stage of Valis II (X68000 version)..
I have to say..
THIS..GAME... IS... UNBELIEVABLY... GREAT!
VALIS.IS.BEST.GAME.EVER!

special thanks to:
Zeloz for providing us the link
Mijet for translating this awesome game
and Telenet (ok, not everyone, but at least Renovation for making a sequel to Valis )

Things I learnt so far from the game:

Spoiler:

Cruel King Megas / Lord Megas ~ unbelievably scary, bloodthirst, merciless, hellish king ever! (He killed his siblings, feasted his mother's flesh and drank her blood dry ) Dalis ~ so the little minion / fortune-teller with Megas, so that's his name! Vecanta Cannon ~ used for locating and capturing the soul-like Valia! And one of the most issues resolved: Vecanti / Vecanty = is The Dark World Vanity = is what we call the Dreamland Reality = is the humans world Crux Shield - I'm not sure what it is, but sounds so cool, and I think it's protecting Valia (maybe, somehow? any ideas?) Fantasm Jewelry - embodies the power of Valis Forbidden Door - which keeps Megas sealed in a dimensional rift

Man, I love Valis

I must draw a fanart for Cruel King Megas

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Strangely, the first level seems to be the hardest, because your HP is real low and you tend to slide off the platforms. But with practice it's manageable. This game in general strikes a good balance of difficulty. Maybe this weekend I will get around to finishing it. X68000 version is definitely the best version of Valis II.

I wonder if more backstory stuff is explained in Valis I for PC Engine.

Amazing, Reiko! This is definitely more to take into consideration for our various theories. Especially since some things have been cleared up!

Also, it lends a bit of truth to a particular theory revolving around Rogles, Reiko, and that duplicate Valis sword she wields...