Overall, this is a good iteration of an RTS on a console. While the controls are not perfect, they are good, and after working with them for a half hour or so you will find them second nature. There are a few minor things in the control scheme I would like to see, but overall you can play the game without fighting the controls.
The story is not great, but few people play an RTS game for the story. The graphics are good, and the game retains the 'strategic zoom' functionality that allows you to zoom all the way in to watch individual units do battle, or zoom all the way out to a strategic level where all units are represented by icons.
Unlike the first iteration of this game on Xbox, which was basically unplayable, this version runs really well. There may be some slowdown when the battles get really large, but overall the frame rate seems acceptable.
The gameplay has been simplified somewhat from the first game, which I think is good. I know some people, particularly on the PC side, are upset over this, but I truly think it makes for a more streamlined game.
Overall, if you are looking for a good RTS to play on your console, give Supreme Commander 2 a try.