The Wii version of the game, which I rented on a whim this weekend, is more playable than the last-gen versions, since you use the Wiimote to aim the gun, and wave it around in quick-time events instead of having to mash buttons. However, during my attempt to play the last-gen version I gave up at the house siege in Chapter 2 largely because the game would tend to spring random violent surprises on me, kill me, and send me to the last checkpoint a long, long distance back. That, and I had no idea which of the weapons were actually useful, so I'd waste a pile of money on junk like the TMP, or worse, not buy anything since I didn't know which ones were good.
So, uh, why not just play the game with a FAQ at hand, you ask?
...What a great idea. I'm doing that and it's ten times more fun. I fully recommend this course of action for anyone else who wants to play RE4. Sure, it might be a bit of a spoiler, but really, at this point what gamer hasn't already heard of most of the stuff that happens in that game anyway?