The game that the Wii was made for.
There are two kinds of games for the Wii everyone wants to play. The lightsaber game, and the lightgun game. Red Steel attempted to put them both together, and although a decent attempt, it wasn't exactly brilliant. Umbrella Chronicles however, simply stuck to the lightgun, and in doing so, have succeeded in making a top-class game.
There was a risk that Capcom would try and do a Red Steel by using the knife like a sword, but fortunately they didn't, and decided to focus on the gun side of things.
The story is well put together. Admittedly the story was already there, with them simply taking the story from RE 0, 1 and 3. But it all seems to slot into place brilliantly, and the addition of some of the side missions to answer some of the "plot holes" was a stroke of genius.
Personally, I think it would have been good to see Resident Evil 2, and Resident Evil 4 in there as well, but I guess they wouldn't have worked quite as well.
There are a few problems though. As the game progresses, checkpoints and healing/ammo becomes a little scarce. Some of the enemies seem incredibly hard to take down without running down your entire supply of weapons. And it's incredibly hard to upgrade your weapons. Other than that though, it's all good.