Absolutely. Bangai-O is similar, but not quite like a typical arcade-style "bullet hell" shooter, since you have more effective ways of fighting back. So if that brand of insanity doesn't appeal to you, perhaps Bangai-O's will. Not to mention that it's better and cheaper than its DS predecessor.
MS Xbox World
At 800 Microsoft points, Bangai-O HD: Missile Fury is an absolute steal, and anyone looking for a solid action-packed shmup, or just a good time filled to the brim with explosions, would be remiss to not give it a good, hard look.
The game is confusing, and hectic, more so than other Treasure shooters, but it's also one of the funnest bullet hell (missile hell? Laser hell? Soccer ball hell?) shoots I've ever played.
Bangai-o HD: Missile Fury is the best version of the Treasure classic. The combination of perfect controls and awesome gameplay creates a fantastic experience for every hardcore gamers out there. The lack of the offline multiplayer and the problems of the net-code during the online co-op are a shame, and partially ruin this masterpiece.
Official Xbox Magazine
Even with the occasional framerate drops(particularly in co-op games), the sheer number of levels plus a deep level editor will keep hardcore shmup fans puzzling their way through for ages. [July 2011, p.79]
Bangai-O superfans have a lot to chew on here and should enjoy the many challenges, but others should think twice.