I just picked this up yesterday, so my comments are based on a limited amount of play time. That in mind, this game is just what I was hoping it would be.
It has the gigantic stage bosses, twisted mid bosses, and warped bio mechanical enemies that are signature R-Type. The stage graphics are eye-popping, brilliantly integrating 3D scenery into 2D shooter action. If you played the excellent R-Type Delta on the PS1, you only got a small taste of what good 3D can do for a 2D game.
I have yet to scratch the surface of the huge array of available fighter craft, but the three that can be chosen at first already allow for a range of approaches to the stages. Each fighter can be customized, which adds -- for a shooter -- a huge amount of strategic depth.
Control is tight and responsive, which is critical for a game that requires as much precision as R-Type Final. I have read reports of slowdown in the Japanese release. I haven't seen any yet, but as I mentioned above, I'm still very near the beginning.
If the shooter genre is truly dying, R-Type Final makes for a very memorable swan song.