I guess the big question is "does it suck?" to that I would answer: It depends on what your expectations are. The second Big Question is "how does it control?" to which I say: surprisingly great once you turn the auto aim off. If you played Goldeneye it's just as good with a MUCH better framerate.
When put up against a modern FPS on PC or console Coded Arms falls flat, dull and sometimes idiodic level design, non-existant enemy AI and meh art design are all part of the package. Most enemies will take evasive action by standing still and bunny hopping. Many enemies charge their shots by standing still... presumably Konomi was mindful of the awkwardness of the analog nub, it certainly makes things a bit easier... still though, it does manage to find a nice ballance between control; movement; and chaos.... battles can be intense and satisfying, which for me is the mark of a halfway decent FPS. Which is what Coded Arms really is, a halfway decent FPS. There is no real story, but a fair number of guns and variety of enemy units. Along with a lite RPG style upgrade reward for dilligence, a serviceable WiFi Deathmatch Coded Arms is a decent game with some nice replay value. PSP owners who can't wait to dig in to FPS action on the go will probably enjoy the game, but those looking for Halo, or even Goldeneye for the PSP will let-down.