This game should be played now if you liked the first two installments.
While the graphics are pretty bonza along with the sound, there isn't that much replay value. The multiplayer is alright but story mode is probably more fun.
There are still a bunch of skaters to choose from and you can even customise your board. The missions in THPS 3 are a lot like the earlier ones with high scores to reach and people to save.
This game is fun for a while, but you soon get bored of it. THPS 4 is probably a better game to get.