Just gave it a short 20minute MAME. This is definitely what I'd expect of a beefcaek barbarian slasher from UPL!
LETHAL EXCESS 
Dare you face the Necromancer's Hard Gay Horde?
Has a goofy Wardner-esque charm, a love letter to Wizardry from the game centre. More importantly, it plays well, evading the depressing waft and drudge of Ikari III (AC). Player character handles sharply, with simple, effective attack frames, and is kept well away from the incoming upscreen. While the 3:4 res isn't ideal for exploration, the few instances of horizontal panning seemed tolerable - Guevara (AC)'s cardinal screen-riding sin avoided.
Enemies attack and die en masse, the tone more slasher than beater. The flail weapon has a bit of that Ninja Spirit kusarigama goodness - attack,
then tilt the stick to lash it about. Not as generous as NS's full 360' lash per quarter-turn, but still plenty of sweep. Seems bombs are the ticket to quick boss kills, good memories of Ninja-kun II.
Quickly learned to one-life the first three stages (no-hits seemed reasonably trickier), 1CCd to stage 4, the lava wonderland seen in Famitsu's preview shots. I do hope that fairy in the second stage points out the boobytrapped chests, or that's gonna be an annoying bit of hard memo. Still, small complaint in the big picture. Will happily pick this up.
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Oho! Out now in JP, liking those earlier releases. At least they feel earlier. I seem to recall it being way past bedtime when they'd pop up, in the past. Anyhoo, following on from the main forum's
ACA Thread:
DenimDemon wrote:Looks like a fun 2 player game. Watched the stream earlier today.
Yeah, was just thinking that the weapon balance would lend itself well to co-op. The flail's coverage is tempting, but its lack of oomph can bite you VS bosses with their HP. I like that they usually have a few alternative pickups to the side, there. I'm mostly stage/flail and boss/bomb. The boomerang seems like it might be a good middle ground. Apparently the sword cancels certain shots, but I don't seem to have encountered any.
Jumping over enemy fire a welcome option. Interested to see the jump is analogue - you get a lot more distance holding the button. You can also chuck bombs a lot further this way, useful VS bosses.
The delay on picking up weapons/food is going to enrage some.

Gotta clear out the vicinity before nabbing the loot.
Playing a bit further in, I think stage 4 might be a make/break point for many. Shifts from flatland slashing with a bit of projectile-jumping, to full-on Legend of Valkyrie topdown action/platforming. I dig this sort of stuff, at least in moderate doses, and it seems very fairly designed - but yeah, lots of classic red flags - moving platforms, chiefly. Feels kinda badass rushing it down at speed, but then I'm an FC Gremlins 2 fan.
POSE OR DIE 
Hm, right back to hardcore topdown killing after. Feels good man.
EDIT: Oh rad. How 2 Deal w/ Boobytrapped Chests:
Just hop over and hit 'em from the back. Any lurking fiend will miss you, ready for dispatching. Phew, glad that's sorted out. Really cool game, breakneck yet varied. Made it up to st5's boss on a credit, adorable mean buggers. st5+6 seem like 100% hardcore dungeon slashing, I'm hoping st4 was just the big platformer setpiece. It's fun, but not the game (or most topdown slashers') strongest suit.
st4 boss design is
faaackin KVLT 
Aesthetic is pleasantly reminiscent of beloved MD topdown killas UNDEADLINE and Twinkle Tale.

1990 was a comfy year for 2D arcade tech.
EDIT2: Nice, the Flail's input is analogue too. Hold the button for a longer swing, that's a cinch to rotate 360' or even 720'. As always with UPL, there's a lot of consideration under the foot/floor pace and screen overload.
Liking the Boomerang a lot. Piercing, reasonably strong, fast, and the way it alternates between left/right arcs gives it excellent coverage.