Alright, I've spent the past few hours in legend mode. Straight away...I'm getting what I thought I would. It's a musou game. Lots of enemies to mow down, button mash fest.
It's the content that has been the most impressive. You have legend mode, which is the series story. Through the progression of legend mode you unlock characters to play in dream mode. Dream mode is a side story made specifically for each playable character you can unlock.
Taiso asked about language and subtitle options in a previous post (this is for you, buddy). Language is Japanese-only, and subtitles are toggle on or off. As for other options the button layout is fully customizable. Which is something not enough games offer these days.
Graphically the game looks good, occasionally great. The world has very little detail. Character models look great and are animated well. Heavy attacks, special attacks, and unique attacks have the expected amount of flash.
Gameplay wise...well, lets say there're no surprises. Light attacks, heavy attacks, use specials in a crowd or against leader types, repeat. However, it's nice to see that Koei has improved their engine. The game runs really fast. I'd say a constant 60 fps with slight dips when things get chaotic.
All in all I like it. If you're a fan of the series or just anime in general I say give the game some of your time. It's not the gameplay that'll bring you back, it's the content. Ken's Rage 2 is just one big love letter to the fans.