It's a flawed masterpiece, IMO. If the combat was a little more interesting/varied it'd be game of the generation, without doubt.
As is, it probably is game of the generation anyway.
Setting, episodes, music, credits, amazing atmosphere and effects, the feeling that despite its Stephen King alike pastiches it was doing something different with the medium. Add in the radio shows and TV episodes and the general depth and immersion and it's obviously very special.
There's a feeling that lots of care has gone into its development, despite its troubled gestation and that the team knew what they had was special. I wonder how it would have turned out had Remedy set out to make the game we got rather than plans changing while at work.
The first time the chapter credits rolled I was blown away. I sat and listened to every song when each chapter ended, just enjoying the atmosphere.
Alan Wake and Remedy are one of the things that really sold Xbone to me. I just hope we get an Alan Wake 2 sometime. And that he's got a different outfit.