I couldn't say what the heck is going on the screen - it's quite a mess, but I hope as soon as there will be more gameplay videos, I could finally grasp an idea of what is going on in the game. As for graphics - it looks awesome and somehow it reminds me about Castlevania (must be setting).
I've been waiting for BR3 (closer to the awesome first game in style, because second was crap), but I am not dissapointed. Especially since it's WayForward. They Contra 4 was brilliant, so I believe they will not dissapoint with this game.