Good for the memory.
In terms of time, this game is very short. There are only a handful of levels which you and a couple friends can beat in like 1-2 hours (probably less).
The game can get kind of difficult if you aren't playing with 4 players or are inexperienced because each hit you take hurts and even though you have like 19 lives, they go down fast. You won't be able to stick in quarters this time, so each life counts.
The basic gameplay is just hack and slash with a "special" move when you hit two buttons at one time. You can move up and down as well as jump and you are given the choice of using the four different turtles. They play the same except for different advantages and disadvantages. Donatello has the longest range, Raphael has a special "special move" in which he does a rolling kick type thing, Leonardo's "special move," I believe, hits both sides of him and Mikey...I don't really know.
With the lack of people on Xbox Live for this game, it may not be worth your time. Too old. Get a newer game unless you just want to walk down memory lane.