I've only played a bit of online multiplayer but I beat the campaign on Heroic yesterday and thought it was a pretty fulfilling game as far as the overall single player experience goes.
Still not having read the Fall of Reach books, I was eager to learn more about how this stuff began and I liked the way the story unfolded. However I still can't help but feel weird playing an already doomed soldier amongst others who would share the same fate and the end sequence while pretty bad ass was a little off putting but I do realize that Fall of Reach was just part of a macro story that plays out throughout the rest of the Halo games and I liked how well bridged this game is with Halo: Combat Evolved. But going from this game's graphical tour de force back into the first Halo is going to be really jarring since the graphics are so night and day between them which makes me hope that they just remake the first game or two.
Character wise, every Spartan in Noble team were well utilized and had their own shining moments. From a design perspective I also liked how unique their overall armors looked, although with Noble 6 I didn't really customize him a whole lot outside of a few details here and there. The music for this game is excellent, very moody and fitting of the atmosphere and I liked how they used the trailer theme as kind of the theme for the team and how it was used in various spots where you had to defend areas (which I agree gets a little old after a while).
Vehicular combat was generally fine and I had fun with them, the only one that frustrated me was the Scorpion segment since the control is so sloppy and it becomes annoying trying to control the tank while shooting and there's like a million shots coming at you.
I've never been big on online multiplayer with regards to the Halo games (odd I know) but I'll give this game a shot in that area since that's become such an expansive and big part of the game.

