Based on Bungie's track record, I'm sure the final game will better than decent. However, I really wish they hadn't gone for a FPS. For me, the cool part about this game would be player / hero customization. The concepts of the enemies and player characters really look nice. I'd like to be able to see my armor and gear while playing.
I guess I'm in the minority. It seems most of the market prefers first person when it comes to shooters.