Beat this yesterday. I'd rate it something like this:
GAMEPLAY: C+
This is probably one of the weaker games I've bought this generation gameplay-wise. Mostly that's because I don't buy very many games, and when I do they tend to be really good. The biggest problem is it was just repetitive -- very very repetitive. There was little to no creativity involved; scenarios kept repeating to the very end; and there were few memorable moments. I find that every great single-player game is filled with some specific amazing moments -- the train in Uncharted 2, Illium rooftops in Mass Effect 2 -- but Alan Wake really had only one, sort of, the Old Gods at the farm. That was fun and unexpected, and while it paled in comparison to the best games out there, it's the kind of thing the game could have used more of. In general, this felt competent in terms of the mechanics but dated and repetitive.
The pacing was also not great. The game failed to grab me in the beginning, and the last chapter was probably the worst in the game. It was really strongest in the middle, when Barney was involved.
GRAPHICS: B
The best thing visually was the atmosphere. Day and night, the visuals gave me a certain "feeling" that was unlike the "feeling" of any other game I've played so far. Technically speaking, the lighting was fantastic.
The rest wasn't great. There was unsightly pixelation in the fog -- very visible and distracting through most of the game. The image was never jaggy, which is good, but it was quite blurry (especially visible in day-time), which is bad. The worst thing was that artistically, the game was very one-note. It didn't provide much eye candy. The only really impressive thing was staring out at the landscape, but it always looked the same: there was a night-time look, and a day-time look, and they both looked the same as always. It's like it was perpetually midnight or perpetually 6pm, and the scenery wasn't very varied.
MUSIC/SOUND EFFECTS: A
Excellent. The music and sound were active gameplay devices and were generally of a high quality regardless of that.
STORY/VOICE ACTING: B
I don't know. This ranged from A+ to like C, depending on the time. Loved Barry and Wake's exchanges. Loved the radio stations and how they made the situation and location come alive. Loved the prescient nature of the manuscript pages and the general concept of the story. Basically, I loved most of what made Wake's reality intersect with other people's realities, showing he's not crazy, that this was an objective world. I loved the atmoshphere of Bright Falls, that certain "it's not quite right" feel of it.
Hated some of the voice actors, especially the sheriff. Absolutely hated listening to Alan Wake reading his manuscript pages... I don't know why, but his voice was so grating; perhaps it's the act of reading a page out-loud that's irritating in general. Hated the last chapter and the ending, which were both very weak.
REPLAY: C-
There's no replay value as far as I'm concerned. I wouldn't dream of ever playing this again; the collection mini-game is just pointless, and since there's little creativity involved in the gameplay, the added challenge of higher difficulty modes wouldn't amount to much enjoyment for me. I'm not sure how long I played the game for, but I probably really liked it for 5 hours or so and finished in 10... and that was more than enough.
OVERALL: B-
It was fairly enjoyable game, but I think (hope) Remedy is capable of much better. It seems like they probably had something really ambitious in mind, but it wasn't working, and they were eventually forced to cut it down to something fairly basic -- with the added bonus of keeping the large wide-open visuals. The strongest part is the atmosphere, but it wasn't enough to make me want to play the game straight-through because of how repetitive it was. It was a slog at times and fun at times. I think they're very creative story-wise, but the execution wasn't fully there.
Like inFamous, I'd put it on the edge between "worth playing" and "not worth playing," but definitely on the "worth playing" side.