So far this game is SO GOOD. I think the action and motion is very good and the graphics are absolutely amazing. It is really impressive what just being able to run at 60 FPS can do for a games look. As for negs, I would say the areas could be more open world and larger, but I am early in the game so far. Very impressed, it won't sell great, but it should.
FYI, spreading the word, I bought mine at Costco for $54 for Red Steel 2, Wii Motion Plus and Red Steel 1. Since I never played it I was quite happy to have it tag along for free.