From the PlanetPlaystation.com feature review:
"Max Payne was the first game to use the Matrix’s famous bullet-time effect nearly eleven years ago. Since then there has been a second Payne and numerous other games that have used this feature. The ability to slow time to exact your art has always been a fan favorite. For the first time in just over eight years Max is back, and old dog has learned a few new tricks. I played Max Payne 2 for the first time a month ago on PC. That experience, and the fact that I would be able to play it on Xbox, was enough to make me genuinely excited for Max Payne 3."