I've got it.
Being a old RE fan I was a bit disappointed at the lack of a puzzle element, which one of the more enjoyable parts of RE1/2/3/CV/0. RE5 plays very similar to 4, it's almost entirely action based, and uses an over-the-shoulder aiming style.
For what it is, it's very good, the graphics are excellent, the gameplay is solid and it's well produced. Just don't expect it to be like the older Resident Evils, because it's not.
Some people have said the computer co-op AI is a little clunky, but personally I thought it was Ok. She uses way too much ammo, but I just gave her an MP5 which I thought was a crap gun and kept the good stuff for myself
If you have Xbox Live hooked up, you can download the demo.