You're absolutely right...however the others up to 4 had a 3rd person view which made it easier to maneuver when you're surrounded by zombies.
Out of ammo? Ok, I'm gonna run up to him and slice him with my machete. Oh crap he's still there and I haven't hit him, BUT LOOK! I have to put away my machete, inch closer to him, wield it again...crap, still not there! Inch closer again, wield it again, ah shit...he's already latched on to me because for some reason I can't move and shoot at the same time.
There is absolutely no suspense in this game, just "Oh shit I don't have much ammo and there are ten Lickers trying to get me that I saw from a mile away!" There's a definite panic element to it but only because you can't get the dude to do what you want him to.
It's nearly 2010 and the only thing interesting about it is the storyline and graphics...and the storyline is pretty much the same as the others. I can forgive the Playstation ONE with it's 32 bit graphics and 15 year old gameplay, but now? Come on, Capcom!
Graphics are fucking stunning, though.