While the technical hoops I had to jump through to get this game working weren't horrible, it is worth noting that without doing so you will face bugs, have missing cutscenes, audio issues, and frequent crashes. This Steam release is not optimized or stable for modern systems and it shows. If you don't want to deal with it, I'd recommend going elsewhere.
That said, it wasn't awful (unlike some old/retro Steam games...) to fix and patch but I can't deny being a bit perturbed that Steam sells games in this state. Out of principle, I do not recommend buying it here unless steeply discounted and you are prepared to troubleshoot the game and research what bugs exist that need to be patched.
If you buy it and get past the patching/fixes, then what you have is one of the finest bullet-time shooters to ever be released. Possibly the first notable game to use bullet time ever and it is still a total treat to play and experience. The voice acting is stellar if not downright iconic along with the writing and comic book-like dialogue windows. This game is absolutely primed for a remake/remaster for modern systems with the latest graphical touches. I would (as long as the reviews support it) pay full price for that.
This game is nothing short of incredible in its entirety and I recommend any gaming enthusiast find a way to play a quality, stable version of it. I don't think this Steam version is the best on the block but it does the trick.
I highly, highly recommend Max Payne. I'm very hesitant to recommend this Steam version.