This is a fantastic game! Somehow it slipped under my radar, but I am glad I played it.
Great graphics (except for the textures loading slowly sometimes), great sound, great story.
Gameplay is like a standard FPS, but the TMD makes for some interesting battles – throwing a time freeze ball into a group of enemies, walking through them whilst placing shotgun blasts strategically in front of their faces, then watching the resulting carnage after ufreezing – it never gets old :) ).
There is gore, dismemberment and the like, and it does have some bits which might scare you (think F.E.A.R.). Plenty of upgrades and weapons.
Overall: Fantastic, definitely worth at least 1 playthrough.