It's an RPG. You shouldn't reasonably be able to see anything not in your character's line of sight. The only exception I would make is some compensation for not being able to actually turn your head or look over your shoulder. No reason you should be able to have a wide, top-down view of an entire battle.
That said, the close camera does make picking up some objects a royal pain when you can't maneuver the sweet spot quite where it needs to be, even though you can clearly see the object.
