So I got a chance to watch this last night, and I gotta say, it wasn't as bad as I thought it was. Granted, it was nothing extraordinary, but it was a decent movie and provided some of the backstory to the Dead Space game, as well as filling in the holes between the comic series and the actual game.
Overall, worth taking a look. It's a 74 minute animated movie. There's CG sequences, and characters are anime style.
The movie is nowhere near as atmospheric or as tense as the game is though.