Some consider it the best PS2 shooter and that includes me.
The singelplayer is great. You wont have a point in the game where you just get bored or where the gameplay seems to repeat itself. One unique part of SP is the building stuff fron nick-nack you find on dead enemies and closets. You can build lockpicks, time bombs, molotov cocktails, sticky bombs and s.o.
Story itself is decent and voice acting simply great. Characters are well done and all that.
Graphics. Hmm its not all that, but some aspects of it are great.
Physics. I think it has the havoc system. Pretty much like in Half Life 2 exept they dont use that in puzzle solving. One thing you can do in Cold winter with the physics that you cant in HL2 is knocking down tables and stuff for cover. Its nice, but you dont use it much. The best part ofcourse:breakable limbs and head. You shoot a guy in his face with a rifle and his head goes a flying and same with limbs. One time when I rushed an enemy I actually saw his leg flyng toward my face after I neutralised him.
MP. Absolutely awesome. Aside for being fun online you can play it splitscreen with up to 4 people. There are the standard modes like deathmatch and last man standing and there are unique and fun modes like Head hunt where you have to capture the head and then stay alive with it for points. The funniest part is when you kill someone by hitting them with the head.
So Cold Winter is a great game with a great lifespan and great Value. If you like FPS and consoles its a definent Must Buy.