Update: I was unfortunately not aware of Shamus Young's severe criticism of Fallout 3 available here to link in the original piece and I regret that. It dovetails rather nicely with what I've written and it's much better executed than my piece. I strongly recommend anyone...
When reviewing older games which people might not play anymore, it is important to realize that the reason these games are still around, still talked about or even still played is because they are good. True, some games don't age well (Oddword comes to mine for me at least.) Fear Effect, while having a ton of cool ideas, is marred by a few flaws which turn it from excellent to really good in the end.
Graphics- For a playstation game, the graphics were phenomenal. The cel-shaded characters are living, breathing cartoons, and the enviorments look great. Fluid motion, no framerate problems which is common in Playstation games with a lot of power in them, it is a beautiful game. True, compared to today's standards, it would be outclassed, but it is still a sparkling gem.
Final Score- A-
Gameplay- While the controls were a bit sticky, you can get used to it. I also never liked the dumb save point thing that was in the game. It annoyed me a lot. Other than that, the game freaks you out easily, with a lot of horror elements that are reminiscent of Resident Evil. At times the controls feels like an updated version of the wooden way RE was, plus some of the buttons were kind of useless, but overall it wasn't to bad.
Final Score- B
Sound- The game has some excellent voice acting in it, and the general sound effects are also top notch. Games like this can live or die on the sound, because the scarier it is, the more scared you will be, and the more fun you will have. Fear Effect Accomplishes this easily.
Final Score- A-
Satisfaction- The game has a lot of good points. The flaws are few, from the save game feature, the puzzles which really served no purpose except to break up the gameplay and do something else, although a few of them were clever, and the controls could of been polished, but I think the reviewer here said it best as it doesn't take away much from the overall effect of the game. If you have it, keep it, if you want to play it, find it on e-bay.