Very unusual game with some striking high points, and unfortunate lows.
From a technical perspective, I have a HD (1080i) tv and the visuals are absurdly good. The mechs are very detailed, and feel... real. This is less about "big explosions" and more about grinding gears and treads. The very "near future" aspect of the game may dissapoint people who are used to lasers and PPC's on their mechs, but Chromehounds is more sort of the Phillip K. Dick to Mechwarrior/Mechassault's Larry Niven. This takes nothing away from either style of game.
I think the best way to explain the gameplay to someone who hasn't played Chromehounds is twofold: Take equal parts of UT2004 and Team Fortress... mix with another part Armored Core and just the smallest dash of pure vehicle combat generic game. The fact that this game is almost only fun in multiplayer, VERY VERY role based, yet very tactical despite it's initially simple combat is key to it's appeal, and it's shortcomings.
Much as in real combat, the complexity in chromehounds is found in the nature of the mission objectives, and team dynamics, not in the guns themselves. After all, a tank, or a pistol, or a bomb is simple... deploying them to achieve a goal is not. Do not be fooled by a lack of gagues and flashing lights and such, and do NOT judge this game by it's utterly useless Single Player portion. The single player is really just a kind of weak tutorial... and since you don't learn much about teamwork or mech building, it's not too good at that.
This is a multiplayer game. Period. It's not a masterpiece, but it is a lot of fun. This is an ideal game for a younger, but not "kiddy" gamer with other friends with this game. The potential for clans and teams is vast, and as an early game in the 360's lineup, Chromehounds is worth a rental to see if it suits you, and a purchase if it piques your interest.