I got this game, and played it through a couple of months ago. It was fun, but a bit frustrating for me, as I'm not too good at these stylish combo beat 'em up games X3 too much going on for my brain to comprehend!
It was alright though, the boss fights were particularly entertaining, most especially that one out at sea, and the final boss. That horrible cover of Fly Me to the Moon did my head in the amount of times it was repeated throughout the game. The music was decent otherwise. I didn't like the film reel/frame cutscenes to begin with, as I thought they were irritating, but after playing through, I found them to be better than most of the properly done cutscenes. Also, am I one of the few who dislike when cutscenes keep showing off how amazing and awesome and epic the fighting is when your not in control?
About the sexual aspect of the game.. Bayonetta is weird in that she is and she isn't good looking X3 I think it probably is as blatently look at me 'I'm a chick with crazy curves!' as Lara Croft, but the game does try to be female empowering at spots. what probably let it down was the strange story and the likelihood that the people who worked on and developed the game were mostly men.
anyway, worth a rent at the very least.