I've been playing DmC for the past few days and I think it's a fantastic action game.
I don't know how Ninja Theory could have prevented the backlash they got for rebooting the franchise....there was really no demand that the Devil May Cry series be redone. That said I've played a big portion of their game and I came to the conclusion that everyone who mocked them originally should apologize, and eat a big plate of crow.
The last DMC game I know of, DMC4, sold pretty well. I remember I didn't like how the previous game made you fight the same bosses over and over, and the story was pretty bad, too. In DmC, the story is quite well told, and the cutscenes were alright. I didn't find anything really cringe-worthy; yeah the new game loves to use the 'F' word but it was OK in the context of what was going on. There's also some sort of 'love story' i think, but it isn't as unbearable as DMC4's. Also, I love how creative they were with the morphing levels, the enemies, and how each level has some sort of 'theme' that makes them all different and memorable.
This is a great action game; I'd say it's one of the best. I'd rank its gameplay as better than the Batman Arkham series, slightly better than Ninja Gaiden 2's, and way better than DMC4's. Slightly better than Bayonetta (I think this way, because it's easier to do stuff in DmC than in that game) Full disclosure: I never played DMC1, 2 and 3 so I can't compare it to those. But generally I really enjoyed how smooth it all was, and if I didn't know it was made in the West I would have thought it was a Japanese game with some western art sensibilities. The gameplay is just so fluid and interesting.
I don't think the game is long (I'm pretty sure I'm near the end now), it only took me a couple of days to get far....but despite that each level felt worth it, no ridiculous grind to speak of (I'm looking at you, Borderlands 2!). So for a guy like me who has work and family to worry about this is a great distraction to have at short intervals.
I hope Capcom will continue the series in the direction Ninja Theory has taken it. It's just far more creative, with a myth arc that can go deeper if they want to. I heard the game didn't sell as well as the previous game, which is not good news to me....I hope more gamers out there give good feedback for it, because it really is a great game, and in a world full of FPS clones and SWAT/Military shooters, DmC is a breath of fresh air.