Max Payne at its time of release was a masterpiece and somewhat of a game changer. While its game design is starting to show its age, a lot of its magic (primarily in the form of writing, storytelling and lead character) is still apparent and keeps the game feeling fresh, despite its actual age.
Pros: Brilliant writing, Max Payne is a great character, great storytelling, interesting story, great music, entertaining voice acting, bullet-time is a fantastic game mechanic and well implemented, interactions with the environment, gameplay still holds up relatively well
Cons: Visuals and level design are mostly uninteresting, game design focuses way too much on trial and error