No. I have the game. I'm about 37% done and I hate it. It's realllly good for the first hour or so, and also that's mostly because I was using the wiimote for the first time. Heres how the game goes, you walk into an area, shoot some "gangsters," or Asian guys that yell "Bloody gaijun!" Then once you go through about two rooms of this, you come to a knife fight. Then game has quite a few bugs, and mine has frozen numerous times. So then it's gets pretty hard at about 25% and you just don't feel like dealing with the pointer flying across the screen at random times.
Rent it first. Theres a 50% chance you will hate it. I played COD3 on the Wii and its wretched. Of course I have the 360 version and that may be why I hated the Wii version. Looks awfull!!!!
I think people are being way too hard on Red Steel. As a launch title, the game is about as good as it can be. Keep in mind that most of it's development time was spent on GameCube hardware. The graphics are good enough, though they leave a lot of room for improvement. The controls can be frustrating at times since they get a bit buggy every now an then. The repetitive vocals samples can get a bit annoying, but other than that - I'm enjoying the game. I just got to Japan, so I'm sure I've still got quite a ways to go.