On my second playthrough now. Quite a lot of awesome.
Gameplay: Controls are rooted in RE4, but you can still move freely instead of being locked in place while aiming. Combat consists of using engineering tools to remove the various limbs of the monsters, and as far as difficulty goes, it really only gets tougher as you get into large enemy count sections. Or the one creature that can regenerate from any wound your weapon does.
The store is both your best friend and worst enemy. You need to buy nodes as often as possible to upgrade your gear, but as they cost 10,000 credits apiece, you need to balance with ammo/medkits/ and new levels of your environmental suit.
The controls are easy. Left bumper is to run, left trigger to aim. Outside the aiming mode, the right side is your melee attacks, and in aiming mode the bumper is your secondary fire control (Plasma Cutter: flip between vert/horiz, Line gun: Mine). X is your medkits and Stasis shot, which brings your target to a near complete freeze.
All menu interactions are real-time on a hologram projected in front of you, including communications.
Story: Solid, don't really want to give anything away, but as you learn more it gets very engaging.
Overall a great game.