Max Payne is arguably probably one of the best shooters for ps2. However, it's sequel is far from it...but still a decent play.
I first must say, loading times are horrendous. For a simple cutscene you can expect a long loading time (on most occassions). This really slows the game down and makes it lack luster.
I also found the characters clunky feeling (compared to the XBOX version which is MUCH better). The graphics are subpar and could use a lot of work. Ok, done with all the bad stuff.
The fighting is still incredibly fun and bullet-time is still marvelous. Despite its flaws, Max Payne 2 delivers addicting gameplay and a gritty story. Sometimes you don't wanna stop playing because it's just such an intriguing story. The voice-acting is once again superb and the graphic-novel-esque theme is definitely unique. Oh, and I must mention the love connection between Max and Mona Sax...very engrossing and very cool to see in a game.
Definitely worth your buck...but definitely worth a weekend's rental from Blockbuster. You can't go wrong with MP2...but XBOX is much better for this. So if you have a choice, get the XBOX version.