I just finished this last night. It's a great game, and the Wii edition doesn't really show it's age (I guess the graphics seem a little unpolished, but not enough to matter).
The story is pretty good (i.e. for a computer game), with some bosses who are really annoying and thus very satisfying when you get to kill them. Overall the atmosphere is creepy with bursts of action, as you clear out the village full of people possessed by Lovecraftian parasitic monsters. It is goddamn gory, though - sprays of blood all over, heads explode when you shoot them and some of the 'You died' animations... ick.
The Wii control scheme works really well. The implementation of aim and shoot is very natural and a lot of fun (and includes the often terrifying feature that you cannot move and shoot at the same time). There's a bunch of the puzzles that I associate with console games, but not too many, and none of them are really hard or perversely obscure. Oh, yeah, save points. That's another annoying console thing, but they're frequent and generally well placed.
Biggest recommendation for the game. After finishing it at 11.30pm I almost started a new game at the next difficultly level straight away (mainly because you unlock another outfit for the main dude, and I wanted to see it).