I haven't played too much of Blood Gear (but that's something I hope to rectify soon). I enjoyed what I played in about an hour's worth of time, between traipsing back and for between levels. However, one thing that did wear thin were larger enemies that can't hit you but just stand there as roadblocks for you to whack (slowly) 4 or so times. The early areas are fond of these types of things (large turrets, etc.) and it slows the pace down in an unwelcome way.
The game is essentially a sci-fi Wonderboy, so it's hard to be too harsh on it (unless I play more and find out I hate it!).