I'd say the game is as good as any RPG I've played on a handheld.
I'd say a mainline entry of such a series should be as good as any console RPG... I still consider releasing this on 3DS and DQIX on DS mistakes. But well, the Japanese market is getting what it deserves.
I beat Max Payne 3 just now. The gameplay is the same as back in the day, which is both good and bad. I like that it's brutally hard (even on the second out of five difficulty levels, bullet time is relatively sparse and you die in 2 or 3 shots), and that you don't regenerate health by hiding in cover and modern crap like that. I also sometimes had ammunition problems. On harder difficulties I imagine this game to be really hardcore. It's not much more than that either though, basically long tube levels in which you move from room to room, leaving mountains of corpses and annihilation in your wake. It really feels like "Die Hard - The Video Game" towards the end. But damn it, the presentation of this game is amazing. Great voice acting, great cutscenes, fantastic graphics, fantastic looking levels with tons of attention to detail and a really well tailored soundtrack to acompany the mayhem. Too bad the story isn't nearly as good as back in the day.
I wouldn't spend $50 on this (and I didn't), but nowadays it should be available for cheap and then I'd definitely recommend getting it if a good old fashioned dose of 3rd persion shooting is something you can get into.