I bought it yesterday and it's great fun. I enjoy the attitude of the game, but being able to be a little creative with kills is fun, some might deem it sadistic, it adds to the gameplay. Kick a guy into a bunch of spikes, slug his legs off, lift him up in the air then headshot, shoot him on the male parts to enfeeble him then get a clean shot of his neck to choke him to death (okay, that's probably a tad sadistic).
It's quite fast paced and there's plenty of action without bombarding you constantly, so it doesn't get boring. There's enough variety too, so you're not doing the same thing over and over. For some reason I am reminded of GoW just from how the levels are set out. Also I get the feeling it's a short game to complete too, I mean I think I've almost completed it.
I had a quick go on the multiplayer side of things, but I've not played enough of it to make a judgment, I'll complete the campaign mode first. I bought the Epic Edition, so I'll receive the beta to Gears of War 3 when it's out.