This game is the most underrated, poorly reviewed game I've ever seen. This game is better than the sum of its parts.
I have to admit there are some parts of the story mode that are pretty frustrating because you have no idea what you are supposed to do, or where you're supposed to go. I literally died 10 times in a row trying to make it past a bridge that crumbles under your feet. I just had no idea what I was supposed to do. I finally figured it out by sheer luck.
The collision detection in the game is pretty bad, and you'll get hit by enemies even though you thought you dodged them. There are parts of the game where the camera doesn't turn fast enough so you are fighting enemies that you can't see. and there are other glitches and bugs that detract from the overall quality of the game.
This game is similar to Demon's Souls. It's probably harder than Demon's Souls, but there are so many save points that occur very frequently, and you don't lose your necro after you've died, so the game becomes artificially easy. The developers could have easily made this game brutally hard by simply reducing the number of save points and losing your necro when you die. Many of the reviews criticize Splatter house for its poor platforming. But Demon's Souls didn't even have platforming, and I can't imagine that DSs would have done it any better than Splatterhouse.
But the bottom line is, this game is fun. I'm glad I bought it, and I enjoy playing it, which more than I can say about some other well-reviewed games (I'm looking at you FFI3).