The first truely next generation game, and a great shooter.
The drawbacks to the game are minimal, but there are a few. First off, the A.I. of your teammates can leave you wondering how they became elite Ghosts of the U.S. Army. They will somtimes stand right in the line of fire, or make very poor choices as who and what to target. Also, the enemy A.I. is fairly straight forward, if you are in there line of sight, they shoot at you, and only you. Lastly, in Mexico City, the most populated city in the world, you see exactly zero civilians in the street. This takes away from the realism that is instilled by the graphics and sound.
Overall this game is a must buy for any 360 owner, as it has a multiplayer with tons of gameplay modes (Think Halo 2 type gametype design.) Co-Op online and off, with specific Co-Op missions, and almost never has lag or online problems when playing on Live.
I recommend this game to anyone with a 360 as long as you like shooters. It easily surpasses any of the first-person shooters availible, and has the multiplayer to make it worth your $60.