The major issue about levels aren't actually enemy stats, but drops.
Higher level foes drop higher level items? Neat! You may think... annoying is the reality. Commit the mistake of getting too much exp and you are gonna swear and a lot.
In ff8 there are plenty of skills that let you convert enemy drops into spells or other useful items, the problem is that when you need a certain drop from a monster, you often have to spam skills that raise/lower the enemy's level just, to increase the chance of getting the right item.
Sure, there's the card command, but still.
Now, to talk about what really bothered me when I played the game: DRAWING
Drawing is way to slow, it takes hours to get the spells you need to make your build, but that could be a matter of point of views, to me it's an issue, to others not.
The real fuck up IMO was that in the game I never, I say NEVER saw an enemy except for the final boss to draw magic from my party... and that's a very sad thing.
Think about it: the game lets you raise stats by boosting them storing magic, let's say you meet a boss that's vulnerable to physical attacks, good! If I was to develop the game, I'd make it so that boss was such a cunning bastard, that he would draw from my party the same magic I put into strenght, to lower my attack and strike me down at the same time. How cool would that have been?
And consider many enemies you encounter in the game are actual soldiers specifically trained to draw and use spells.
I think it would be very cool if that feature could be added to FF8, it would be a major improvement to the game.