*thumbs up!*
All right! Very rarely do we see some basic Xiao-esque action that doesn't suck.
Graphics: They work. And work well. The "death" fade-out is a very nice touch as well.
Style: Oozing with it. The way that all of the characters move is awesome. Shows the animator behind it's got some great skills. You can almost feel the emotion of some of the mooks before they get killed just from the two dots that make up their eyes. The "surrender" one is a great example of that, and priceless as well.
Sound: Various sword-swings, grunts, and other standard sfx. Used consistently, which is good. Good music running through as well. It's got a fast-paced tempo which fits with the carnage that's unfolding. Also nice that it slows down, Payne-esque when it goes into the standard, oblitatory bullet-time sequence.
Humor: The aforementioned "surrender" mook cracks me up every time.
Overall: A very solid entry into NG. It did what it set out to do and give us a moment of chaos, without sacrificing quality.
Beef: I usually try to think of at least one beef with the movies I put a review up for. If I had to ask for anything, I'd say maybe a longer boss fight? Thus far, the "Boss" doesn't seem to be very Boss-like, since they die almost as fast as a normal mook, albeat with a bigger gun.