It's pretty cool for the style of game it is. I was sceptical when I played it first too, but I think it was worth it. Doesn't have open exploration like some games do, though. It's sort of like Resident evil 5.
it's been out on the 360 for a while now (was originally supposed to be a PC title but Microsoft had their way with the developers) but people say it's a solid game. the storyline + narration is apparently good while the game itself is creepy but "not scary". i put it in quotes because i haven't played it and i get scared by just about any game with suspense.