Came across this in Steam's Midweek Madness, had a look on YouTube and the game has very good reviews, with a visual style quite similar to Team Fortress 2. Now has dedicated servers!
Downloading it as I type - little over 1GB needed. I will post some comments later tonight to give my verdict, but it certainly seems like a bargain.
Apparently it's also available on PSN and Xbox Live but I'm not sure if the price is the same.