The first couple of DQ games have not aged well IMO, but then neither have most pre-SNES RPGs. I may be remembering too fondly, but like I said earlier I felt DQ IV stood up very well to early SNES RPGs. There was some grinding, but I don't recall it taking more than 1/4 of the game.
It's possible the Japanese look back fondly on grinding, even. Lately Smash Bro has been on a mission to tear down RPGs because he thinks they're tedious instead of challenging. When I played Final Fantasy II/IV for the first time on Super Nintendo, I remember thinking it was too easy because I never had to level up to get into a new area - grinding was the challenge. Over the years, I came more to Smash Bro's way of thinking - grinding is boring instead of challenging, but I guess it's possible that some gamers, and the Japanese in particular, still view grinding as a sign of a challenging RPG.