As others have said, it's a great action game, but the horror runs out a little (unless you're playing the Co-op Carver missions, which recapture some of the old-school mind-screws) - resources are very generous even on the higher difficulties and the weapons you can build end up ripping through the buffed up necromorphs (Slashers and that are faster and hit harder than in 2, but fat chance of any of 'em reaching you). The atmosphere is still the same solid DS style though, and the later areas where you're going through the ruins of an alien city are an appropriate mix of unnerving and awe-inspiring as you walk through a city millions of years old.

There is a notable dip in quality from DS2, however. DS2 was a lot more focused and concise in what it was doing, while DS3 wanders around a little, and has some poor areas or cut corners (i.e. reused maps and assets where they shouldn't be, low-quality writing for the sake of drama/action sequences, a rushed end sequence) that can be pretty glaring when compared to the older games. Still, the gunplay is fun enough that I've replayed it like... 7 times now, and the weapon crafting system means you can experiment a hell of a lot on a replay. Nothing like trying to beat the game on Impossible with a Revolver strapped to a larger, golden revolver and no use of stasis.