On the plus side it looks pretty decent. Now on with the negatives.....
Having 5 years in development you would at least think they could create a memorable game. It's repetitive, lacks any type of real scares, has laughable facial animation, constantly unfair AI (I must have been axed in the back 20 times now with no effort on the games part to draw attention to the enemy), a camera that REFUSES to stay where I repeatedly asked it to be and worst of all a central character who you feel absolutely nothing for. Alan Wake is the most mundane and down right boring 'hero' I think I've had had the mis-fortune to play. The narration running through the entire game stinks as well.
Another middle of the road 360 title advertised as AAA by Microsoft. Don't believe the hype.