I think Greek mythology and the myths of hell are about equal for setting and atmosphere. So it will all come down to execution (pun intended) on all the major points: gameplay, graphics and story.
Personally I stayed away from God of War on PS2 for a long time because I thought it would be rather one dimensional in its game play. But when I finally got to playing it I was pleasantly surprised at its ability to vary the hack'n'slash game style; including the ability to inject subtlety and tactics to the game play insofar as it's possible for hack'n'slash to be subtle. The story more than carried it's weight to keep you interested in Kratos as a character. And there's really no need to talk about graphics.
“The fundamental cause of the trouble is that in the modern world the stupid are cocksure while the intelligent are full of doubt.” - Bertrand Russell
"When the power of love overcomes the love of power, the world will know peace."
Jimi Hendrix
