I'll start off with the only good thing: the graphics. A creepy, dark atmosphere is forever present in the street levels.
Now the bad. The script is direly written, but if the gameplay is good, that shouldn't matter. It isn't.
At first climbing around the streets and checking whever someone is a vampire with Necrovision is fun, but soon you realise that the game is incredibly linear. Stealth games especially in this next-gen age are supposed to offer you alternative routes to get around enemies and provide replay value. There are a few back-alleys here and there, but they all soon connect to the same dull linear route.
It soon becomes go forwards, scan, wait for vampire to move, go forwards, scan, wait for vampire to move, etc.
Many people seem to complain that vampires are too powerful, but I think this is a necessity. They don't have guns, so you need a reason not to go in all guns blazing. However, they may have overdone it and put a far too large power range in guns. The only effective gun in the game is the shotgun. The M4 takes just over two mags to kill, and the pistol is just pointless.
It was a neat idea, but unfortunately badly executed. If Vampire Rain 2 comes out and has gampelay to rival Splinter Cell it would be terrific, but I don't have high hopes.