Yeah-- while I generally prefer the 360 controller for just about everything, the bumpers are terrible. For this reason I am adamant that a game like Demon's Souls would be unplayable on 360 (a bold statement, but anyone who has played it knows what I'm talking about).
In any case, empowered with the knowledge that lock-on is useless, I played 6 hours of Bayonetta last night. This game is so good. I'd sort of fallen out of love with the action genre over the years-- the last game that I remember being super into is Devil May Cry 1, and Bayonetta walks all over it. The thing that impresses me the most is not the huge depth of gameplay, but the fact that you never feel overwhelmed by it. You feel like you're "good" (or at least adequate) at almost every level of play. The majority of games like this have a substantial dead spot in enjoyment at the beginning while you climb the learning curve-- Bayonetta does not.
Another thing I think they nailed is the balance between absurdity, coolness, and self-awareness. While Devil May Cry 'kind of' got this, there were a lot of times when it played itself too straight and stumbled into eye-roll territory. Bayonetta just feels effortless in every regard, and no matter how crazy it gets, it never feels like too much or too little. It would have been so easy to come off as trying too hard in a game this over the top, but it never does. I could go on about how it's cinematically flawless, but I feel like I've made my point. If an action game other than Bayonetta 2 is able to top this in the foreseeable future I will be very, very surprised.