I was doing some random searches and saw some info about this for the first time.
http://www.rockstargames.com/maxpayne3/index2.phphttp://en.wikipedia.org/wiki/Max_Payne_3They're moving it to Brazil, Max is older and "more world weary", and from the screen shots it looks like the camera perspective will be like almost every other third person shooter out there now. The graphics and day light setting remind me of the demo mission I played of Splinter Cell Double Agent, and it is hard to tell from static screens (that might just be pre-rendered advertising images unrelated to the final game's look) but it seems like the game is going to feel completely different.
I'm also curious as to how they'll pull off some of the flashier moves (if the older Max is still able to pull them off in the story), since the camera angle seems skewed towards the typical "wall cover/return fire" approach, as opposed to the "lead tornado" setup from the first two games. The camera moves in the original games weren't too jarring because the view was pulled back a bit further from the character to begin with. This new camera placement leads to a slight feeling of claustrophobia, which is kind of ironic considering how open the environment looks at first blush.
In the first two, the city, specifically when it falls into Max's definition of "Noir York" is a big supporting character in and of itself. Also, it appears to have neither Remedy or Sam Lake (the creator) on board.
I hope it turns out well, because the first two are on a list of games I regularly re-play, but if they ruin it, I wouldn't be surprised.