Alright, just finished. I gave sort of a running opinion as I was playing in this thread, so I'll summarize my thoughts of the game here:
In a vacuum, DmC is a pretty good game where a lot of the better aspects are blunted by strange decisions. The color coded enemies, the differing paths without much difference, the way the game encourages you to go back to older levels but puts in enough annoyances that makes replaying levels sort of annoying. But it's far more competent than I expected it to be, so I suppose I'll be dining on a slice of crow.
The phrase I keep coming back to in my head is "You take a swing at the king, you better not miss." If there is any action series currently existing in the business that could take Bayonetta's crown, it was DMC. But it didn't, overall. So I am left with this feeling of being surprised that DmC is better than I expected, but also that it's not as good as it could have been.
The game just...doesn't do anything with the potential it had. Rather than being extremely tight, it plays it incredibly safe. It tries to streamline some things (rank inflation, one puzzle-like element in the entire game, very little weapon switching), leaves some things that probably could have been changed (you still need to find a statue to upgrade), and makes some things more complicated (red orbs and upgrade points are separate...why?).
The rest is all stuff I have said before. I think the color-coded enemies and "enraged" enemies do fundamental damage to the battle system. I find the fact that much of the game is just a floating platform/hookshot template with different skins applied to be seriously limiting. I think the enemy design is poor. I think the keys and doors for bonus rooms were just padding. I feel like the game just falls off a cliff in terms of variety and design after the second major boss.
But it wasn't a trainwreck. It just took a swing at the king and missed and I don't give it particular credit for getting up the courage to try.