I think saying Max Payne is overrated isn't entirely accurate. I find it more accurate so say the poorest game since ET.
First off the story, I wanted to kill Max myself, I even tried to find a way to shoot myself in the face. His wife and child are brutally murdered and all he can do is whine like a pathetic little bitch for the entire game about how it gave him poor dreams. Seriously, flat out horrible. The dialect of the game was entirely monotone with over the top verbosity, a pathetic level of disjointedness at best. Nothing relating to the story was so much as poorly done, analyzing it I tried to think of anything they could have done worse as far as the story line, I couldn't come up with anything. Typical porn has far better thought out and acted story, the porn that attempts to have a story blows Max Payne out of the water.
Obviously the game had no AI to speak of.
Level design.... walk into a 10'x12' room and shoot three guys. Then walk into a 10'x12' room and shoot three guys. After that, walk into a 10'x12' room and shoot two guys. Then the big shocker- walk into a 12'x14' room and shoot three guys- some stunning creativity there. Yes, you had the dumb luck escape from the fire sequence(responsible for both my deaths in the entire game on my first play through) and then the obnoxiously bad dream/maze sequences then the final level which was a terribad wannabe Matrix knockoff.
Game difficulty wasn't there. Even on the highest difficulty level, the only way you could expect to die is if you walked into a room and got one shotted by someone with a shotgun from close range- at which point you just bullet timed into the room and took him out. Any helmet head should have been able to drool on their keyboard and smoked through this game in under 10 hours, including reload times for when their mouth dried out a bit and they happened to die.
Even dropping down to visuals and audio, both sub par for its time- engine was too slow for what it was doing on screen(it wasn't a dog by any means, but it paled in comparison to games that were outdated at the time- Giants springs to mind which also ran faster) I was doing game reviews when Max Payne came out, gave it a 0.5, I regret it to this day as I think I overrated it.
Max Payne as a game has absolutely no redeeming value whatsoever. On every level it is horrible. I wouldn't play through the second one if someone paid me, same with the third.