Multiplayer is fun, even if (as usual) I get killed a lot in the arena-style PvP games. Although I should say, one of the neat advances is that even the single-player game is sort of multiplayer. You can see other players wandering around the area and join up in impromptu ways to battle the monsters. One slightly maddening thing is that there are no communications. Apparently, you can only hear the audio of people you've friended in PSN and that are part of your group. This may keep the rape threats and fagcusations down, but it makes the environment pretty sterile for multiplayer. And it really detracts from the cooperative missions, where communication would obviously be of use.
It's fun enough that I'm keeping with it, but I can easily imagine that a few months after I set it down, I will have totally forgotten it.