Considering I've played just about every console (save the two big price ones we have today), and have seen just about every spectrum of graphics there are out there, I'd actually say that I miss the days when we didn't put millions into making the breasts on a woman look real and focused on making the gameplay perfect, storylines that kept you wanting more, and a soundtrack that fit the mood of whatever you were doing at the time.
Suffice to say, as long as the graphics don't impede gameplay (and there have certainly been occasions for that), then I don't mind the graphics looking like NES to SNES, to PSX era graphics. As long as I enjoy the game itself.
To which I'd have to say I'd probably play that, yes. However, as someone else said, I'm really not a fan of timed scenarios unless they're far and few between, and forgiving enough that you don't need to be Asian or were able to beat the "No Hit Challenge" in Megaman 9 to beat.