GTA 4 is two different games bundeled into one in a clever way.
Free mode lets you do whatever you want without any real punishment becuase when you die you do not lose money. For exploring the city and blowing stuff up, this is the mode you want to play in.
When its time to put meaning in your gunplay, you go to storymode, which is great in every way a game can be except for the far away spawn points and the loss of money when you die. Sometimes you will literally start 10-20 minutes back to the very beggining of a mission.
Since GTA 4 has two different modes, it is a superb game. Without the free mode attatched, this game would be more frustrating and less satisfying. Thank god its not. It also has great multiplayer (but no splitscreen) to enjoy with friends.