Very good, but not as good as Time Crisis 3. Gun doesn't work on plasma, DLP, or LCD screens or projectors.
Also the game is pretty short, but quite replayable. Me and my friends played this for a solid week when we first got it, and I still pick this and other Time Crisis games up every now and then to play through them again. If you don't already have Time Crisis 3, get that first, but I would definately recommend this game for any shooter fan.
IMPORTANT NOTE: Only works on CRT screens (regular analog TV). Does work on rear projection TV's (old school big screens) and CRT projectors, if you by some chance still have one these. If you only have a plasma, DLP, or LCD screen (or LCD Projector), the light gun (Guncon 2 ) won't work, wait for Time Crisis 4 and the Guncon 3 for the PS3.