So, just finished up with this, 13 hours.
Boy was I wrong before, I had a really great time with this. When it was inevitably announced, as somebody who doesn't love the original, I thought they'd do something to butcher the story that the diehard fans of the original love, and that newcomers wouldn't "get it". Instead, they do nothing to ruin the original's story, and in fact the new endings they've added fit perfectly and wouldn't be amiss in the original game. The updated gameplay and VO transform it into something that frankly - for me at least - is better than before, and fans of the modern Resident Evil remakes should have a good time with this.
The atmosphere in the game's incredible. Extremely creepy in both visual and sound design, if you're not a horror person and you're checking out this thread to see if it's playable, I wouldn't recommend it - there's a lot of time spent in extremely dark environments with only a flashlight for company. If you are a horror guy, this is the perfect spooky Halloween season game, it's one to turn the lights off for and it's absolutely made for playing with good headphones.
If there's any criticisms it's that yeah, it's a little too long in the tooth and quite repetitive at parts. But if you've got 12-16 hours to blast through it, and can take a scare or twenty, I'd definitely recommend it.