I'm loving this game. Story is good, controls are tight, gameplay is fun, and the environments are more diverse so far than the first Dead Space. They didn't stray too far from the formula of the original game and they refined different gameplay aspects (reloading while running, ).
I'm only three hours into it on survivalist difficulty. Just saved before the elementary school. I'd be farther but I'm trying to save some for my girlfriend when she's over so we can see the game for the first time together.
Oh and after I beat it I'm going to do a new game + on zealot, followed by beating that and attempting hardcore mode (zealot difficulty AND you're only allowed to save the game three times; also no checkpoints in hardcore).