It is a complete rehash of RE4, and guess what, that is not a bad thing. RE4 rocked, so I don't mind more of it. The game changing device that steps it above RE4 is the obvious two person play, which is realy good. People complain about the controls, they are the same as RE4, so if you liked RE4, stop complaining. Are the controls bad? After playing Dead Space, I would say the Dead Space controls/movement is better. The campain mode is a little short, but there is tons of replay value, especially with alternate difficulties, upgrades and unlockables, and Mercinaries.
The graphics are amazing, but I do wish they would update the sound elements. It has the exact same sound elements as RE4, just in 5.1. I would hope that the step change from RE4 to RE5 (co-op being the biggest change) will transfer to RE6. Not meaning keep co-op, but continue to improve (like change the controls). Maybe 4 player co-op and a verses mode where you can play as the infected (yeah, go ahead and steel from L4D).
Oh, and for frak's sake, GET RID OF QUICK TIME EVENTS!