Ok peeps, I actually got to play the game for about 3 hrs and so far it is just as good if not BETTER then the first one. Not sure what Gamespot was on but the game is tons of fun. All the features from the first game have returned so your main purpose is to take over businesses and take down the other Don's. The strategy elements are that you build a team of up to 3 others, they each have specialities. A demolition guy is good, at well, blowing stuff up and finding other ways to enter a building through explosive means. You also have a safe cracker, an engineer who can stratagem things like the power to a build. You also can have a guy that is pretty much about brute strength and is mainly an expert in beating people up. As you go through the game and get money you can upgrade these guys to the next level where they can learn an additional skill. It all works really well with the game.
One new feature is as you take over businesses you will get special rewards like brass knuckles, bullet proof vests and steel plated cars. The thing is that the opposing dons can have these things to, in order to disrupt it you need to take out one of their businesses which will eliminate the award (the same is applied to you). As take over businesses you can assign any number of guards to protect it from being taken over again (so you no longer have to worry as much abyou out sprinting across town trying to save a building that is being attacked). You can also send one of your "family" members (the guys with the various skills) to help out.
Also a neat little feature is that each Don has their top family members. Now instead of killing them any way you want they NEED to die a special way unless you want them to come back later. To get this information you need to do favors for random people which can include everything from robbing a place, beating someone down (but not killing them) to going into a business and wrecking the place. The first big family member I killed I had to run over with a car which I found out from one of these favors.
So in conclusion if you liked the first game there is more then enough to make this worthwhile. So far I think it is MORE fun then GTAIV. Also the visuals aren't nearly as bad when you see it in motion, it has a fluid framerate.