As a follow up to Silent Assassin, Contracts can't compare. But not all is lost.
The narrative of the game isn't linear like the previous titles, and the missions are pain-induced (apparently 47 was set up on a mission and was injured) flashbacks. So there is a lot of bouncing around in the missions (until you reach China, where several missions take place in a row), and the only time the game stops with the hallucinations is at the last level, which is a fun and awesomely designed mission but is a Leon the Professional rip-off. However, just like the last mission, you're not forced to play in only one fashion: you can approach most missions in a variety of ways, depending on what your preference is. Sniping, strangling, exploding, and psychotically shooting up everyone and everything are all options.
The missions for the most part are varied, and can all be fun, at least once you know the patrol paths and can pull off the mission with finesse resembling what you'd expect from the world's best assassin. But because the game is so short (12 missions, as opposed to the 20-something from Silent Assassin), the fun is kinda short lived.
If you missed out on the first title, play this game if you really want to see the awesome old level. But in all, you can pass on this title completely.