Well I bought the game along with Bayonetta at TRU with the great deal of getting a $40.00 Gift Card when you buy both games (360 version).
A friend of mine also bought the game and he brought his copy over so I could check it out before breaking the seal on my own copy. First thing is that the game should not be judged by the first few areas. Visually, there was alot going on, but it was not overly impressive. As mentioned some chugging in the first area and some screen tearing.
As I kept playing, I was really enjoying the game play, but still was not overly impressed by the visuals and the tech. problems...as I entered the next area, it got a bit better, framerate seemed to be better, but the dang screen tearing is pretty bad at some points early on.
From what I played, I do like the game and anyone getting the game, it is one of those that after you put in a few hours, the true game is revealed. I think the intro areas that you first play through are rough, to be honest and I also think the tearing will put some off as well as the chugging that happens early on. As you get farther and into the game proper, the chugging is not evident very much and framerate is pretty solid. Screen tearing however rears it's ugly head at at times is really bad.
Bottome line though, even with the issues technically the game has, the game itself is really good, gameplay is good, visuals are good aside from issues, and wow is it a colorful game. Needless to say, I will be opening my copy in the next few minutes and sink myself into the game.
I pray to all that is holy that they fix some of the tech issues in the game via a patch...I usually can deal with some frame drops here and there and even a chug everyonce in a while, but screen tearing on a 60"HDTV looks pretty bad for me. So...here is hoping that they fix these issues, which will for me be much appreciated.