The original Spyro games, that came out for the Playstation One, were highly rated. Moreso than the more recent "Legend of" series.
That being said, I think this game delivers in providing some really cool, great looking next-gen environments along with, for the most part, the kind of quality gameplay that satisfies.
Graphically the strengths are that the environment and ambient surroundings are among the best I've seen for a game that is intended to be charming for both kids and adults. The weaknesses are that the camera angles get very restricted and the frame rate drops and gets choppy at times. Both Spyro and Cynder, along with the environments, look great in this game. Just as you'd expect on the 360.
Gameplay-wise I have to say the God of War like boss battles are very enjoyable and work well. Battling the typical onslought of enemies can get repetitious as they come out in large numbers at times and respawn over and over. Though you'll probably find yourself button mashing the x and y buttons to continually attack in these instances, there are some nice grabs and combo moves that you can do that help to break up the monotony of it. Each dragon has specific breath attacks, such as fire,ice, electricity ...etc, that can be upgraded to be more powerful throughout the game. Armor can be obtained and upgraded as well.
The co-op play works well. All you have to do is pause the game and you can choose "Single Player" or "Two Player" from the menu at any time and a friend can join in. Both Spyro and Cynder are joined together by what appears to be an electro-magnetic tether that keeps them within a close range of each other. This means in co-op mode the two players have to work together to try and basically move in the same direction throughout the gameplay.
The flying is sweet and I really enjoy it with only the downside being that it is limited by barriers. Tap the "A" button three times and you're in the air, any time at any place in the game. However, you usually have to get a long flying run, or have to go through a predefined route, in order to get to higher locations that Spyro can't immediately ascend to. If you're like me, you'll enjoy flying through the awesome environments at times.
The story plays out in a kind of superficial way. It is decent enough to carry the game but not quite up to par with the epic soundtrack and background music. The audio is top notch and the voicework is well acted. Background ambient music is movie-like and helps this to truly feel like a game for this generation.
Aside from the frustrations of limited camera angles, invisible barriers and repetitious fighting of common enemies, I think this game is great and I am glad I bought it :)