I just played through the first two Grace (and first Leon) sections.
This is very cinematic / movie-like which I think is normally a bit of a slight on a game, but they're doing it really well here. Already a couple of wow moments here very early on. The game looks and sounds great, it has that feeling of the world you inhabit being a narrow corridor with lots of pretty things around it (try and step into the road on the opening section) but despite that, it feels like a nice visual upgrade over previous efforts. Though I must admit, I thought 7 and 8 looked excellent too (though even in 9 faces are a bit iffy).
My early impression is that I'm expecting zero replay-ability from this as a result of the linear, and interactive movie feel of some of it, so my recommendation is to try and make your first play through count. Only play it when you are able to give it 100% and definitely crank the difficulty up.
The game having typewriter ribbons again is less restrictive on this game thanks to quick resume on Xbox, but nonetheless I ended up not needing either of the two I picked up. So, I'm not too worried about that being a source of frustration.
I will say that running feels basically the same as walking, I couldn't actually tell if I was running when the game told me to. Or am I doing it wrong?
Either way, seems great so far jump on it and play it before someone spoils it for you.