I got this game 2 days ago. Cumulatively, I have played on it for about five hours and completed it.
I was a huge fan of Max Payne when it came out 3 or 4 years ago, and if you've not tried either before then I'd definitely recommend saving your money and getting the first one - it was better in so many ways.
The Fall Of Max Payne is overshadowed by the original in the story-line region - basically, it's strange, it's a bit confusing, and frankly pointless. It's about Max's love-affair with a (female) criminal. The story-line of Max Payne was far better thought-out.
Max Payne 2 is also way, way too short, which is a great disappointment because Max Payne was lengthy, and kept you playing because it's story-line was so gripping and intense.
However, it's not all bad - The Fall of Max Payne has the same beautiful graphic quality and rendering as it's predecessor, although some textures are bit low-quality.
The environments are nicely designed, and very interactive, in as much as any small boxes, bottles, general stuff that you run into, will move. But you can't shoot boxes open any more!
None of the areas of the game are particularly based on strategy, and when they are, it's pretty obvious what to do, which is probably partly responsible for it being so short.
The weapons are similar, the physics are the same, the bullet-time is still cool, and if you're after something to satisfy the simple desire to run through a game and blast the enemy with round after round of gunfire, then this will be the best thing for it.
The violence level is just the same, with the added spice of regular extreme language, and 'scenes of a sexual nature' as the cencorship people put it......which was a bit of a surprise!
Not the best, but worth trying.