Lack of local multiplayer is pretty disappointing, but yeah, I'd still buy it.
I buy games for good single player more than multiplayer anyway.
But man, the level of customisation is orgasmic!
The game looks really promising, but I hope the hype around it isn't misplaced, like Eternal Darkness was for Gamecube (still a great game, but by the time it came out, we practically knew everything about it, so nothing was really scary or surprising anymore).