people rave about the story, not the gameplay so much, if that tells you anything. It felt clunky to me even last gen, though slightly more responsive then Resident Evil/Silent Hill.
Then again, I've always felt survival horror "realistic" controls were a bad excuse for not having enough points of articulation in the animation. Real people don't move like tanks or take 10 minutes to inaccurately swing a pipe/stab a knife. Also, there's no consistency in the "realism" that gamers say these games use-- Chris Redfield in RE1 is just as shitty of a fighter against slow moving zombies, despite being trained to fight, as Heather (or w/e her name was) is in SH3.
Thankfully RE4 and RE5 changed all that. Even Deadly Premonition finds a nice middle ground between old and new survival horror.