Not particularly. I don't play multiplayer, so I'm only judging on the single player campaign here, but the way it jumps between missions feels really choppy and unfocused, which keeps dragging me out of the experience. I know shooters aren't really plot-heavy to begin with, but the story actually becomes rather incomprehensible, because you wind up jumping straight from one place to another with little to no transition or explanation. It's like, "Suddenly, I'm here for flimsy reason X never established before." Oh, okay. So the narrative is loose at best.
Characterising the protagonist feels like a mistake, because it's really distracting when he talks out of nowhere, and I have no idea whether it's him or the random allied guy on this mission with me.
Also, for once, I really agree with what Yahtzee said, in that the choppy framing device means there's nothing to break up the action; you just get thrown straight into it in almost every mission. It honestly feels like I'm just having the same gunfights in different locations, which is something previous CoD games have avoided really well. The only times you're not in a firefight is during what are basically cutscenes, and one mission where you dress up as the enemy for about two minutes, only for that to become useless when they start firing on you anyway. So the constant barrage of action actually becomes boring to me, because there's no tension leading into it.
And, this may be a really petty gripe, but it kind of breaks immersion when you try to shoot under a table, only to have the bullets deflected off air. I kind of expected that to have been weeded out of this generation of console games...
Anyway. These are just my issues with the game, and why I personally haven't liked it so far. If none of this sounds like a deal breaker to you, then you might really enjoy it. At the very least, if you're someone who really likes shooters, then you'll likely find this a competent FPS, though not particularly memorable.
Basically, I'd rent it rather than buy it. Find out if it's to your taste before shelling out the cash.