Play it for the story if nothing else...
The gameplay takes a little getting used to, but it's
really fun once you get the hang of it. My only issue gameplay-wise is that I wish there were more powers and weapons to choose from. I don't like how you can basically max out all stats by the end of the game leaving no room for replayability to try out unused powers. It's very different from Kotor 1 and 2 where you were very limited on which skills and powers you could max out.
Unfortunately there is one major gripe I have with this game because it was practically the selling point the game developers were using, interruptable conversation. I don't know what went wrong in the development process, but somehow this awesome feature went from being shown off in trailers to nonexistance.
Following on the subject of conversations, I think the game suffers a bit for having high quality voice acting and yes and voice acting is really good. The problem is that there seems to be a lot less dialogue choices than in games like Kotor 1 & 2 because EVERYTHING in Mass Effect had to be dubbed for the reading challenged.
I think this is a must buy from the Xbox 360.