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The games graphics do look better then the first and are noticeable. Although some of the textures are blend, they still look better then the original. They did a good job though making the game better looking then the orignal, but it's nothing amazing. Just a solid job.
Sound:
Sound in the game is pretty good, it has awareness for surround sound systems, the music in the game is done well. My only complaint is the voice over's for all the characters except Sam sound horrible. Most are just plain bad, and it's hard to take serious sometimes without laughing. Other then that, it's pretty good.
Value:
The SP will keep you busy, as on high diff lvls it's pretty tough and that in itself is worth the purchase. There is a mulitiplayer componant to this game that is very new, and because of the rareness of this multiplayer, the value of this game increases.
Multiplayer:
What Ubisoft has done with the multiplayer is something that most people havent even tryed or thought of yet. Stealth, in multiplayer. And they did a very good job of being one of the first if not "the" first to implement a stealth gameplay with a 2 vs. 2 format. This alone is worth the purchase as it's very very fun to run around hiding or run around hunting. Theres a variety of modes to play, which should keep you busy.
Overall:
SP is pretty good, MP is better. A very good sequel in general!