Preface: I am not judging this game compared to its predecessors, since I did not particularly enjoy LP1 or LP2. That being said...
This game is not good. It certainly starts out well, the story is interesting, the graphics are pretty (especially given how well-optimized it is), the sound design is good, and the voice acting is solid. HOWEVER:
-The game is unbelievably easy (I played 95% of it with just the infinite-ammo pistol) except for random HUGE difficulty spikes
-The game world is incredibly small and stifling
-The "hostile" and "uninhabitable" world poses no threat at all (you can walk around in major storms to your heart's content)
-Controls are lazy and stupid (P is to pick up ammo! Why not the "use" button??)
-The cover system is the epitome of crappily-made. They don't even tell you it's there, which makes sense, since it DOES. NOT. WORK.
-The strategy for killing the akrids (including the bosses) is always the exact same (dodge as they charge, shoot when they're stunned)
-Fighting in the rig is beyond pointless (it's ALWAYS better to get out and fight in-person)
-The boss fights are ridiculously stupid (the one in the rig is mind-bendingly atrocious)
-Bosses are recycled all over the place (you kill the giant crab thing in 3 different boss fights alone)
-The game straight-up lies about button prompts ("W/A/S/D to turn wheel" really means "tap f repeatedly")
-The audio logs are filled with SO MANY juicy, lip-smacky, mouth-poppy sounds that it sounds like the mic is being eaten
-The base only has a few people you can actually interact with, so it feels lifeless
-It is completely arbitrary where/when you can grapple/repel
-There is no visual indicator of health (other than when you're near-death), and your ammo count vanishes and reappears whenever it feels like it (EDIT: I've been informed that your ammo count and the rest of your HUD disappear when you get too far from the mech)
-And so many other little tiny annoyances
If you're a more patient person than I am, you could probably put up with this game, and might even enjoy it. I, however, found it joyless, tedious, and boring. It is a paint-by-numbers, designed-by-committee, heartless blob of checklists, man-hours, and coding. Life is too short to slog through uninteresting crap, and this game didn't make the cut (for me). You may enjoy it, but please don't spend more than $5 on it.