The story is great compared to nearly all recent games. The best part of the story is the history of the city. Gun and plasmid gameplay is unique but guns feel a bit awkward and most plasmids are useless when compared to others. There is a really good atmosphere even from level to level.
Also for the people who complain about difficulty, playing it on easy with the optional respawns (which are an essential part of the story, not some contrived gameplay mechanic) enabled does not qualify the game as too easy.