Lost Planet has been touted as a direct competitor for Gears of War. But it doesn't quite match Gears.
Graphics are great, nice and full of colour. A great contrast to Gears with all that snow.
Monsters vary and are huge.
Mech walker work quite, better than any of walker game.
But the cut scenes are pants, typically Manga, busty girls, awful dialogue. Skip them at all costs.
Online is quite fun.
So all in all a good game, but not a Gears of War..