The game is rigged against you, with enemies appear right behind/beside you, terribly cheap deaths, lots of backtracking, random annoying glitches, and weak (for some characters) special abilities. But it does increase the fun factor, since you get the feeling that you can be completely torn to fleshy bits at any moment. I used elemental/poison-modded Machetes and swords.
But I never finished the game. On 360 or PC. Cause my Third Act saves became corrupted, apparently due to storing too many items with a certain NPC. From what I've read, this still has yet to fixed, even though the publisher claimed it has in an update. I don't know if the same issue arises on PS3, but this alone makes me recommend against purchasing it for anyone who hasn't.