I liked it. Unfortunately liking it doesn't get games very far. I too agree that it's terribly easy and it's obvious that certain weapons are pretty terrible no matter how you slice em. The powerups thing is confusing to me, but I definitely notice the difference when your bars are full.
Main thing that's kinda driving me up the wall is the fact that the song never changes or has any real length to it.
I too had the issue of the character loading up and being stuck.. on maybe the fourth or fifth boss. Shows the health, the menu button and number 7 on my skill keys.