Pretty much mediocre... But still satisfying...
Graphically, the game is very well done. The scares are still their, and the monsters display stunning visuals and are very well animated. The environments are although well-suited.
Sound is also good and at many times really disturbing and scary. It gives a sick feeling that something just isn't right... And usually that's the case.
Gameplay is still repititive with constant focus on lame and slow battle sequences that never really worked. If you want battle and mayhem, check Capcom's brilliant Resident Evil 4 on both the GC and the PS2.
Other wise, the game is pretty standard stuff.