So I picked this game up today and played for a few hours, as a huge hack and slash fan, here are my thoughts:
1) The game is good overall. It's certainly no 10/10, as it's a mash of other genres that do what it does better, but it's a good package.
2) There are a lot of sequences that are "cinematic". You'll be pressing forward on the joystick and Kratos will traverse the environment, while his son have a dialogue. It's done to build their characters, so not totally pointless.
3) The game takes me out of the action a bit more than I'd like, hopefully that changes. The cinematic stuff is as bad as I thought, but I can live with it, because...
4) The most important thing about the game, is the combat. I will say if you like DMC, gaiden, etc, you will not be disappointed. The combat in this game is on par with darksiders or so. I would say I enjoy it as much as a recent release as NiOh, but it doesn't touch DMC or gaiden. Between the old and new GoW hack and slash gameplay, I would say this iteration adds a lot of complexity and tool use, so your brain is constantly on fire trying to juggle your tools. I imagine the upgrade system will greatly expand this, but already very impressed.
So in summary, if you're having cinematic game fatigue, this will annoy you, but the combat and presentation is worth it. I'd say definitely give it a go. Also, if you like hack and slash, play on the second highest difficulty. The highest apparently makes enemies damage sponges, while the second highest is just right I found.