I am actually completely impressed with what I am seeing and have seen for BulletStorm. It looks much like Cliff describes, a Gears of War for all major consoles. Only instead of chainsaws, you'll be able to flail other people's heads around or throw ninja star covered with lightning. Maybe.
I wish I could say more, but in this case, the screen grabs and video will say ten thousand words. Though to be honest, you wouldn't read ten thousand words. But watching them, that is a different story.