I just picked up this title and it's somewhat of a mixed bag. I'll use a spoiler's tag for Jorge's delight.
A new story but you can tell it continues where NGS2 left off (though not immediately right after). The items such as potions, magic elixers, lives of a thousand gods (Health increase), Muramasa's shop, etc; are all gone. Instead you have a very liner game that focuses on straight-up action with nothing else, leaving the game to feel somewhat empty in the standard Ninja Gaiden sense. Some of the enemy and boss fights get difficult to the point that you would love to have maybe just one potion on the ready to use, but no. You're outta luck here. There is some good news however. The frequent savepoints and chackpoints allows for you to get back to where you left off in the fight so it isn't too bad a stretch. The graphics are way up there which is probably one of the reasons why we don't have the aforementioned items anymore. The game also has an abundance of QTE's, but unlike LoS or RE4/5 you actually have lots of time in which to execute them and they are simple enough so as not to confuse and piss you off. I can see a lot of games that need to take QTE lessons from NG3. All in all, it's not a bad game yet it doesn't top the first two in the series either. give it a shot if you ever find yourself wanting to buy it.