Folklore is great
Visuals: The first thing that will strike you is just how beautiful this game is. Every visual aspect of the game has been lovingly constructed, and it shows. There is a lot of great lighting, and the visuals really set the mood for the game.
Sound: Amazing! The alternates between haunting, wistful, and hectic (battle music) - but its always beautiful. Never overbearing, always setting the mood ... its been a long time since I've heard game music this beautiful. Really, words cannot describe how good some of the songs are.
Plot: Great! Wow, finally a game with a GREAT plot. And I do mean great plot. It advances at an appropriate pace, and the 'chapters' that the game is broken up to make the experience of playing the game like reading a good book ... especially towards the end. I read some reviewers blasting the game for gratuitous text - and while there is a lot of text, I found it to be the best part of the game. It really was like I was reading a book at points, except the book happens to have beautiful graphics and visuals to go along with it. And this is not a bad thing; in facts its a very good thing. That I can compare the experience of playing this game to reading a good book speaks volumes (ha, pun) to the depth and intricacy of the plot. This isn't just a pretty looking button masher - this is a game with soul.
Action: Lots of action if thats your thing ... I actually found myself wishing there was less of it, so I could progress the plot quicker. That said, I do like collecting things in game, so I did get all of the special items, which slowed me down a bit. The action in the game is fun, and fast-paced. However, there are so many folks that you can potentially get, most of them really aren't going to see play. You'll have a few favorites and then some 'special' ones for special occasions. Which is sort of sad, but nothing to really do about that.
Format: I mentioned how the game is divided into chapters before ... this is a really great innovation (I'm not sure if its been done before) in my opinion. After a long hard day of work, I really don't have time to spend hours and hours playing in a sitting ... even on weekends I do have other obligations. Chapters allow me to play manageable chunks, accomplish something, and then go on the next night without feeling like I just paused the game for a day. I had the chance to just play through chapters without taking a break, and that worked really well too. Like reading a good book, the chapters would end at a suspenseful moment, and since you are switching off between Ellen and Keats you get a really good flow going.
Conclusion: This game is great. Hands down one of the best games I've played for any platform. It made me glad I dropped hundreds on a PS3 instead of an XBox 360. However, if you have a short attention span, or just want mindless killing, or some such thing - skip this title, its not for you. If like intricate plots, stunning environments, and beautiful music (with a little action thrown in to spice things up) then go and buy this game right away. I cannot recommend this title highly enough - it simply blew me away.
I honestly cannot think of any negatives for this game. The only thing that is a remote negative is that the downloadable content is not yet available in the USA. If you're in PAL territory or Japan (maybe all of Asia, not sure) its available though. Also, replay value is not super high - once you know the plot you know the plot. However, its is without a doubt worth the money and worth the play-through.
I had the good fortune to play this game on an excellent 1080p hdtv (more than capable of handling the 720p format this game is in), and it really made a difference. While of course you'll still have an amazing experience on any TV, when a game has such stunning visuals as this one does make an effort to play it on an HDTV if you can. :)
So go and buy and play this game ... and have fun! :)