I loved the graphics and tense atmosphere. The ghosts are what you would expected to see in real life (well to me they are). The music fits in well with the atmosphere as do the sounds. (creepy music and silence mixed - lovely). The storyline is superb and it gets the player's adrenaline pumping, especially when the vibration of the controller as a substitute for her heartbeat.
The strategic puzzles on some doors are a nice change from just having the doors open and something grabs you. Like classic "Resident Evil" style. The way you can go back and forth collecting things that weren't there before may bore some people, but I think it's part of the thrill. If you go back and find something new, you have more chance of meeting another ghost; which is an adrenaline rush.
I also like the way that it is based on a true story/folk-law (loosely) - there ARE sites out there with various information about the rituals etc. - you just have to look. Miku may only be a college girl but she knows her stuff.
The few bad thing that I can think of is the camera angle at some points and the repetitiveness of the ghosts' whining. Constant cries of "Why"... (Even with the Editor; he cries out 'why' in a female voice) and the various tapes - the volume of them is so faint you have to turn the volume up to even hear them.
The Bottom Line
Supernatural ghostliness. Good for people who like adrenaline rushes.