Gameplay from wikipedia
The gameplay of Chains of Olympus is similar to its predecessors; it is a third-person action adventure game that focuses on gruesome and violent enemy death scenes and protracted boss fights. Also familiar to the series are box-based puzzles and the quick time events that the player can execute to display a close up kill of the enemy. There are fewer tightrope walking sequences in the game that was prominent in previous games of the series.
Kratos still collects red orbs to power up his weapons and abilities. He also collects Gorgon eyes to increase his health and Phoenix feathers to increase his magic. The game's controls remain mostly unchanged but because of the PSP's reduced amount of buttons the game uses both shoulder buttons and the analog stick in order to dodge.
God of War's weapons include Kratos's trademark Blades of Chaos, the weapon that was given to Kratos by Ares when Kratos agreed to serve him and the Gauntlet of Zeus, a magical gauntlet that allows Kratos to unleash devastating punches on his opponents. There is also a Sun Shield that Kratos picks up that allows him to block most attacks, parry an attack that stun the opponent and also deflect projectiles back at enemies. Kratos also acquires magical spells throughout the game that helps him deal with the amount of enemies he faces. This includes the Efreet spell, which knocks out all nearby enemies, the Light of Dawn, which allows the player to throw balls of light, and Charon's Wrath, which can inflict damage on several enemies.
And for those of you that still dont know... there is a forthcoming installment in the God of War which is God of War III. Its sad that God of war III will only be available for playstation 3 and will be released in 2009. You can see a trailer of the God of war II below. Just ignore the blank video at the end, it is needed to get the High Quality in the video...the real video length is 1:02