Yup, you should always have the option of skipping cutscenes, even if i'm actually interested in seeing them, odds are i'm not going to want to sit through them again if i'm replaying the game.
The game apparently also gets REALLY cheap and frustrating in the last level, at least according to Angry Joe.
Thanks for the info, JWK! Sounds like a solid rental then. Everyone's pretty much in a consensus about the graphics being the best seen on console, so i'm actually rather anxious to see it in action.