It plays out a lot like Peace Walker with the buttons mapped out to A,B,X,Y. I really don't mind the controls of the game at all. It's not as flawless as the HD collection, but the 3D effect is well done and I think the bottom screen interface really changes the stucture of the game. It acts as a shortcut instead of hitting the Start button, which I personally like a lot.
The one let down (besides frame rate, pretty crappy imo) is the 2D first person view. It would be pretty cool to see it in 3D and you have to wonder why it wasn't possible for Konami to add that feature. Let alone, they did add some cool features to make up for it. Lets not forget the photo camo feature that allows you to have any type of camo taken with a picture.
I am considering the game since I own the HD collection and it was baddass. MGS Snake Eater is also fantastic game to the series which is also arguablly one of the greatest games of all time...