I bought this game for £20 second-hand not so long ago, and found it almost a complete waste of my money. Storyline is the most interesting aspect of the game, and trust me when I say that everything else is dire.
I found the game play mechanics very poor; it seems that the producers did not know what to sell this game as - a shooter or a different take on Armoured Core. It fails at both.
Enemies show little to no AI, hardly ever putting up a fight. Sure if you play this on the harder difficulties this could be rectified, but then the hard to control weapons will let you down.
Online is a mess and a real disappointment, not worth trying out.
Graphics (I hear) are not on par with the original Xbox 360 version, though I personally found them very good for such an old game.
Voice acting can be very weak at times, and I was confused several times by the storyline. This could be interpreted as a poor translation, or that i'm not very good at following the story :D.
First time play through took hardly any time to complete, well under 8 hours. No replay value
Game play - 4/10
Longevity - 2/10
Online - 5/10
Story - 8/10
Graphics - 6.5/10
Controls - 2/10
Overall - 5.5/10 (not an average)
If you have the money and time to spare and can pick this up for next to nothing, it is worth a single play-through. Otherwise don't bother; there are other games out there that work better than Lost Planet. Renting would also be advisable due to short play time