I just started the game over again and am loving it. The first time through, I rushed through it (beat it in 18 hours) and didn't take the stealth and CQC too seriously b/c I wanted to see how the story unfolded. I've even been watching the cutscenes. When you play like this the pacing of the game seems to make a lot more sense, although I totally agree just about every scene could be cut down. To me, the game is like an epic movie such as Cleopatra or Ben Hur. Both could've been cut down considerably, but in their actualized form they still work damn well and represent a leap forward in movie making.
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
