OK, its about three years old but I always have a soft spot for this game. It has a lot of great moments, the Haunted Hotel for one, and nearly every quest can be done multiple ways...nearly...but it isn't without some very sizeable flaws.
Firstly the bugs. If you buy this game PATCH IT!! It is completely unplayable after a certain level if unpatched.
Secondly it's clearly geared towards immature people or teenage boys as all the women are barely clad in clothes (The Malkavian female being one of the worst culprits) and you can only be a straight male or a lesbian (no straight ladies).
Thirdly despite all the wonderful social options available in the game you have to finish it by being a walking death machine. A Toreador with awesome persuasion skills will only get so far where as a brujah with fists will finish the game easily.
Finally the biggest failure is the melee combat...its terrible, though stealth kills do redeem it somewhat.
Don't let all this put you off though, the story is a nice change from the supernatural "OMG!! Big demon!!" stories which always seem to spiral out of control, you can almost believe this story. It also has multiple endings and numerous dialogue and mini storylines.
Finally the biggest selling point is that you can play a Malkavian. Malkavian's get there own dialogue (they're all utterly mad so hilarious to play), stupid clothes, silly conversations and lots of special extras which I won't spoil for you if you decide to play.
I will recommend that you play it with cheats. It may seem a waste but you'll often find the noclip ability invaluable.