Heavy Rain I have no experience with whatsoever. I don't know what it is or what it involves. Telltale, on the other hand, I think is doing an excellent job. I thoroughly enjoyed the Sam and Max franchise, and I think Back to the Future is off to a good start. I passed up Monkey Island, but I liked their work with Wallace and Gromit.
As for the JP intellectual property, I think it needs a refresh after the third movie, whose only saving grace was the return of Sam Neill. I enjoyed the JP platformers on the Sega Genesis and Saturn platforms, and I liked the Dino Crisis games (I completely eschewed Resident Evil. I just think dinosaurs are cooler than zombies). Just so long as Telltale doesn't go overboard with ridiculous plot points (points can poke holes), and if every mistake made is salvageable (i.e., I can't remember the name of the game, but certain things happened in later parts of the game based on choices made and ITEM PLACEMENT in earlier parts. The manual encouraged players to make multiple save games at critical points, in the case that the player made the wrong choice, because a mistake made could mean a total game restart. I'm talking about crazy stuff like if you forgot to sabotage a coffee machine in a guard house, then the guard would be there later, because he wouldn't have left to get coffee from another source, but you were in a time sensitive part of the game, and there was no other way to distract the guard in a manner that wouldn't alert you to anyone else on the current screen. In other words, "Game Over, on account of technicality"), then I expect a great new addition to the JP franchise. The Telltale writers are a diamond bunch, so I predict great things.