Graphics = 8/10 Gorgeous backgrounds and everything is pretty good looking.
Gameplay = 7/10 It's got somewhat addictive gameplay, as long as you're playing with your friends. It gets boring after awhile if you're going the route solo.
Audio = ..Who cares? A little better direction for the zombies groans, etc. would've been nice.
Story = 2/10 That's a generous 2. There is no story. You wake up in your hotel room, hungover, even though only one dude was drunk in the intro video.
The business: The game was exactly what I needed for a few days. A hack n slash, dice 'em up, kick 'em in the teeth, zombie-slaying good time. It's best to play with some friends. I got lost in the game for a good 12 hours the first time I put the disc into my PS3. It's nothing spectacular, but I enjoyed it more than Left 4 Dead or Dead Rising. I know a lot of people would freak at that comment since they idolize those games, but I think Dead Island has a nice Action/RPG blend in similar fashion to games like Elder Scrolls or Fallout.
Okay, on to the games downfall. This is almost a deal-breaker, and it's the bugs. I've only encountered the save bug, thus far. I lost 15 levels and 2 zones because of it. Apparently, the fix isn't a fix and it stills occurs unless you play single player, but that gets old quick. Your games will just randomly decide that they no longer want to save despite it saying that the game is saving. There are ways around it like playing on single player only, but the game is at it's best with online play enabled. I, also, wish the game had a more involving story. Something that at least gets you involved for the first play through like the Resident Evil series manages to do.
Overall = 7/10. Good enough to play until something better comes along like BF3, MW3, Skyrim, etc. Or if you're just in the mood to bash some zombie brains in, or curb stomp some punks.