Forthcoming PSN game - a little bit Shock Troopers, a little bit Chaos Engine (AKA Soldiers of Fortune), but with more pace.
Fast, intense, good scoring mechanics, and a pretty arcade-like feel overall. Certainly not as a pure arcade game as a textbook shmup, but it exactly delivers what Stardust did - a shooter where there's something to do every second, and where the momentum rarely drops.

You should keep an eye out for this one if you like top down run 'n' guns. Way better than I expected and not the third perso adventure game many of the current screen shots suggest.
EDIT: Oh look - here's a gameplay trailer.