So this is coming to PS3 next week. If you guys played it, want to play it or just think it's interesting, talk away. I've never played shmups, but this caught my attention and I'll probably download it.
I couldn't get this since my 360 isn't internet connected, but I'm hugely excited (even moreso at the prospect of Cross Buy). Ikaruga is my favorite shmup, so that needs to make it to PSN, too, and I'll be stoked.
Sine Mora is an interesting game. Most shmups' strengths lie their arcade modes and scoring mechanics, and more specifically in the goal of getting a 1cc and sick-nasty high scores. In the case of Sine Mora, I feel the story mode is by far its strongest feature (unusually engaging for the genre) and the score attack mode is where it suffers most (it's poorly balanced, disjointed, and the bullshit one hit kill attacks that you couldn't possibly avoid unless you already knew about them are just in poor taste). The visuals, however, are stunning and the time-based score/life system is unique and interesting if underutilized.
For 15 dollars any shmup fan with a 360 (which you should have if you like shmups, among other reasons), would probably be better served getting Akai Katana, Deathsmiles, Ikaruga, Radiant Silvergun, Strania or several other quality games for the price. However, Sine Mora is quite forgiving for people that don't necessarily play a lot of those kinds of games (in story mode, specifically), so that is definitely a consideration. The Under Defeat HD Deluxe Edition is coming to the US for PS3 this month (and not the 360, bafflingly) for 30 bucks, so there's that as well.
It's on sale this weak on Steam as part of their Big Picture sale, less than $4. I agree with arglactable's comments, though. It's a beautiful game with some questionable design choices. The story mode would be stronger if they weren't just text interstitials between levels, but it is interesting (you don't see a rape backstory in many video games, especially not one with anthropomorphic characters).