Bloodrayne certainly has the babe and the attitude, but aside from that there's not much here.
Mechanically, Bloodrayne is very simple. She has access to her blades at her forearms that look really cool to use, but are basically watered down to the point of being button mashing. Rayne can also grab gun weapons from fallen foes, but once again you're limited because they function much like each other and have an automatic lock-on ability limiting any real skill you need with them.
To compound problems further, Rayne's powers which include a near-invulnerable state of blood rage, super slow-mo mode ala the Matrix, and her natural ability to feed to regain health are so broken that the game has to compensate by throwing hundreds of enemies at you. Even that, however, means nothing as any decent player will rarely die from combat. If anything might kill you in combat , it would be the controls which can be a bit finicky. However, the plus to this game is that it's easily approachable by anyone and not hard to learn.
The game falls short somewhat in the graphics department as well. While the characters look nice and the environments are pretty detailed, you can see some nasty blemishes such as really bad glitching in the environments and grainy overall look. The frame rate also tends to be a bit unstable and the game has a strange sort of jerkiness to it.
There are some pretty decent background tracks to listen to, but the bread and butter of the sound is the vocal work. The actress that does Rayne really delivers the attitude needed to portray the character. The game also slows the sound down for the slow-mo parts to really drive home the effect. Dialog is still pretty wooden, but it sort of adds to the campy feel of the game at times.
You're probably not going to have much reason to pick up the game after you've beaten it which is possible in 15 or so hours so you might be better looking for it at a rental store or borrowing it from a friend. If you are wanting to own it, I suggest looking in the bargain bin.
Bloodrayne is a game that I found pretty fun. It certainly packs the attitude to the point that it's almost so serious about its material that's it campy. It does have some really funny parts such as after beating one of the bosses, Rayne *ahem* adjusts herself and then proceeds to flip off the dead boss. You'll probably find the game enjoyable enough on its attitude to not get bored with the repetitive gameplay.
The Good: Good vocal work by Rayne, lots of attitude, easy enough for anyone to learn to play, fun boss fights.
The Bad: Graphical blemishes, repetitive gameplay that's sometimes quite broken, not much replay value.