Rockstar nailed the Max Payne (MP) style to perfection, improving upon flaws of its predecessors.
The shootdodge mechanic's visuals have been significally improved. When Max is about to collide with an object during shootdodge, his body behaviour reflects this, bracing for impact. In prior games, there was no collision and Max would look stiff during the animation. The levels featuring transitions from cinematic to shootdodge (ex. crashing through the Night Club glass) adds further spice to what once was an outdated mechanic made new again.
The enemy A.I. is also improved. They're vastly unpredictable and exhibit various traits ranging from aggression to cover mechanics. While it's easy to fault the cover mechanic as slowing the action down, it's a needed compromise giving A.I. added realism and emphasis to the environment. Truly, the environment is now both your greatest enemy or ally. In past Max Payne's, the best the enemy did to protect themself was strafe behind a solid wall or backstep. While it's easy to look at the cover mechanic from Max's perspective, it's what it provides enemies that truly allows the mechanic to shine.
The A.I. spouting out a foreign language is a great twist to the Max Payne formula. It ellicits confusion and frustration out of the player, ironically complementing Max's predicament, drunken nature, and the fast paced anarchy of gun-fights. It reminds us Max is out of place in his new environment and that words don't mean much when bad guys carry big guns.
I wont comment on the multi-player, other than to say more options never hurt anyone. What's important is its development didn't seen to hamper Max Payne 3's single-player experience.
Now the million dollar question: What modding tools will Rockstar offer its PC audience, as witnessed in the prior two games? This needs to happen. Max Payne's modding culture is a big deal. People want to see Kung Fu and Matrix mods, among many others. With these mods, people can remember and return to MP3 long after they've completed it. Truly, I don't know if there would be a MP3 if MP1 or MP2 didn't have such a stellar modding scene.
Rockstar did a fantastic job. Like many others, I was concerned at first seeing a bald fat Max Payne in the originally released screenshots, but Rockstar pulled it off. Kudos to them on the grand effort.