Finished SP - overall a fun experience though the AI is horrible and the last few levels are actually kind of boring.  I really felt that the cinematic moments were lacking and some of the transition points were very slow to trigger resulting in a lot of just standing around waiting for things to move forward.  The story is pretty sloppy but better than many other recent FPS entries I suppose.  Gunplay was solid and the mini "sandbox" is a nice change (for consoles) though I miss the more open experience of Crysis.
MP - fuck what a joke this is.  Here we are 5+ years into the generation and high profile developers still can't write decent net code?  I suppose the maps are o.k. and the suit powers seem like a nice enough twist on the COD formula, but lag and hit detection are among the worst I have seen (discounting Socom 4 as it is in Beta) - 360 version here.  I don't think I have stuck around for more than a few full matches because often times I can not kill someone regardless of how much I shoot them. Then the killcam shows them not even hitting me but still getting the kill.  Real poor showing, Crytek.  
This year has been a real let down for high profile FPS games and it doesn't seem like anyone out there has what it takes to make a good MP experience.  I'll trade this in and wait for a large price drop for the PC version.