So far from what I've played I have enjoyed the game. Its not as good as Lego POTC, but fun nonetheless. But there is some serious issues with the game. The frame rate is horrendous at times especially when trying to rotate the camera. And recently after finally getting my fellowship I have had nonstop lockups. Just walking along, switching characters, loading a cutscene.... the game locks up nearly every 5-10 minutes. I thought it might be because I am using a launch 60gb fat PS3 but I loaded up some other games I own and experience no issues. Google-ing this issue it seems I am not the only one having issues.
I really wanted to enjoy this game but so far it has been mostly frustation. Technical issues aside another annoying thing is that you can no longer change characters on the fly in the hub worlds. Or at least I haven't figured out how to swap out unlocked characters. The platforming is still very frustarting when you have to make precise jumps and the voice acting just seems a bit out of place. The combat is still button mashy but enemies will parry you more often. Some of the puzzles had me scratching my head looking for missing pieces that were somehow already in my inventory without the game letting me know I picked it up.
Unfortunately I am going to wait and see if Travellers Tales releases a patch before I try playing again.