Played the game a few weeks ago with a buddy. We beat the story mode in two nights, but it probably could have been done in one. Overall it wasn't terribly impressive, looking more forward to the new Army of Two game at the end of the month. Aliens was definitely a one and done kind of deal, although the multiplayer mode online may be more rewarding. We didn't try it out.
The multiplayer story mode is fuckin' frustrating if you're trying to sit down and play it with a buddy split screen. There isn't an option immediately visible for it when you sit down, it looks like they only give you an option for single player or multiplayer over LAN/internet. We were able to do split screen after selecting single player campaign, and then adding a player...but long story short it didn't save any of player 2's accomplishments or weapons. So, on the 2nd night player 2 had to restart mid game with shitty weapons and you couldn't pick up the ones you missed...which made finishing the game a real bitch. Made it a real pain in the ass when your buddy has 3 different shotguns and multiple rifles and you're stuck with your starter rifle and a shitty pump action shotgun.