I just finished it, and I can safely say that I enjoyed this game more than the trilogy it was based on. It even manages to have a better ending that Episode 3 did (i.e. no bitchy "Noooooooooooooooo!"). Plus the co-op/character switching mechanic is very well done. It is rather easy, I blew through it in a few days, only playing an hour or two at a time, but there's lots of unlockables to uncover after the main game is done.
I now demand that Traveler's Tales develop a sequel around the old trilogy, IMMEDIATELY!