If you like the movies then you'll surely get a kick out of the game.
At the beginning of the game you don't have much of anything, I beleive the first weapon you find is a shovel actually. You are wandering through town which you'll soon find is full of deadites. Of course the only the choice you have is to use your shovel to beat them senseless....which feels totally awesome. Until, of course, you realize that they are never going to end and that you could sit here all day mashing one button killing numerous amounts of the same 3 enemies. Game loses a bit of quality right there.
Luckily it's not long until you find your chainsaw and your shotgun and then killing deadites is a good time again. There are actually quite a few weapons you'll get throughout the game for both of your arms, some will require some painstaking item collecting and "welding" from a good buddy. Things like the gatling gun and the flamethrower can be worth the time spent however.
Graphically the game is meh. Nothing jaw dropping, but it's not quite so bad that it looks "last gen." Enemies don't vary to much. About every two levels you'll end up in a new area so to say which will contain its own handful of enemies. They tried to make the enemies get huge at the end of the game, but it didn't turn out quite as well as other games have pulled it off. Not to mention since enemies never end you're going to want to just run from most of them.
Bosses are a piece of cake. There's really no challenge to them. Some basic tactics will get you through all fights. Its been awhile since I played, but if I remember correctly two of the bosses actually require the same strategy. Definitly not the highlight of the game.
The game also gives you some sort of power in which you can use souls of the dead and the necronamacon, or something, to do some interesting things. I suppose they can be compared to magic in other games that aren't Evil Dead. For example you cast some pain in the ass spell to throw your soul into a deadite and control them for awhile. Not terribly creative, but you will be forced to use this to get through certain situations.
If you didn't get the picture yet, everything in the game is meh. Nothing is excellent, nothing is dreadful. So, if you love Evil Dead (as I do) then play this game because your love for the movie will push you through the game and you'll get a kick out of your chainsaw and boomstick. However, if you don't like the movies, or have never seen them, don't bother with the game because you simply won't enjoy it. Either way, it's an improvement from the last Evil Dead game on ps1.