I got a pre-order through Amazon for the 360, and they threw in a $15 credit, so that was a nice bonus. The engine is clearly dated, but I'll never let that be my sole judge of how I enjoy a game, given that I spend hours across numerous platforms in engines that are by no means modern, and I enjoy the heck out of them. However, if you're put off by paying full price for something that's not the latest and greatest in polygons and textures, then you'll want to reconsider.
The single player game is short, I've heard, but given that I usually play games in one or two hour bursts during the week, it's going to be a few days before I work all the way through it, and I'm not in any hurry to blast to the end. But, yes, if you're expecting a long, drawn out and extensive single player experience, it's not here.
What did impress me was the multiplayer, and the incorporation of vehicles into otherwise tired, tried and true CoD-style gameplay. There were some server issues last night because, so the server messages claimed, there was such high demand. Once I did get into a game, however, it flowed quite smoothly and was fairly intuitive.
I especially like the battle point currency you're awarded for kills and objectives, and how you can purchase equipment on the fly, depending on what options you choose. As a basic Assault kit, for instance, I had a flak vest and a RPG, and I could 'activate' the flak vest for that life with a small amount of BP, and I could buy reloads for my RPG in the same fashion, and those BPs would replenish during the round. Save up enough of them and you can purchase vehicles which you spawn in next time (I don't know if there's a way to buy them while you're still up) but I though that was a good way of everyone fighting over who gets to drive the tank.
I've made purchases that I've regretted, and Homefront definitely isn't one of those. As several other posters have noted, how does a ranking in the 70s qualify as sub-par? Only if you've decided that 'All Games Worth Buying' must receive a 90+. I've played a lot of games, and I'd rank very few of them in the 90s, but that doesn't mean those other games were terrible or that they weren't even good, it just means they weren't among the best I've ever played. I give Homefront a solid 80.