Darn. I don't like that style of gameplay. =/
Well I cannot say for certain because I only played one of the 5 or 6 difficulty options, on the easiest you might be able to not use cover much I assume. There are tons of different abilities the different class types can unlock that I never got to see in my first playthrough either, I know there are barriers and such that you can use on you and your team though.
It has similar stuff to Gears of War and Uncharted, but the team based mechanics, biotics (Mass Effect's version of "Magic") and tech abilities really make it very unique I think. Hard to explain, I guess.
Give the demo a go. I love the gameplay, but the story really is the main draw, so it might be worth it for you just for that.
Barry, I've re-thought my position on the monetary value, yes it is well worth $200.
Get it.
Barry has a lot on his hands, man. He never even beat the first act of Vanquish yet! That takes like 20 minutes!