I also liked Red Steel. They had the right idea, but they didn't execute it properly thanks to the fact that it was rushed to release at launch.
Red Steel 2, if it really WILL be made, will have much more streamlined FPS controls, probably a larger arsenal of weaponry, and a VASTLY more complete multiplayer mode.
I wouldn't be surprised if Red Steel 2 turns out as a worthy successor to Goldeneye 007, in terms of fun and similarities as a FPS.
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