I have played it, and it's just a joke. It's not a very good shooter at all. I recall vudu calling it mediocre. That's higher praise than it deserves. It's worth a look for the spectacle, sure. You don't see this much concentrated Japanese weirdness just anywhere, but that's all it's good for.
Couldn't disagree with you more! Anyway maybe it's just me but I think it's a shame Aniki didn't win if only because it seems to be pretty divisive and who wouldn't want to hear a heated argument between say, James and Greg about its quality? Ah well, I'll be joining in with Super Ghouls and Ghosts regardless, it's good stuff and I bought it on VC months ago. Been watching a speed run of the game on Youtube, makes it look easy!
By the way can anyone confirm; if, the first time through the game you get the bracelet and finish the last but one boss with it, will it let you through to the final one or do you get sent back anyway? I know second time round if you do it without the bracelet it sends you back, but only to the start of the 7th stage. I can imagine some lucky sod out there somewhere on their first ever playthrough completing it first go and being completely ignorant of the whole 'whoops back to the start' thing.