Tldr: Go for it if you like exploring unique gaming endeavors of their era, but only if you can stomach dated controls.
"The most ambitious PlayStation game yet", says a praising quote on the back of the Playstaition 2-cd pack cover of In Cold Blood. And yes, it was ambitious in being a creative and original twist on singleplayer story based gaming. The mix of stealth, adventure, and tank-controls resident evil style action - and a quite succesful one - still remains a pretty unique gaming experience; parallels are hard to find up to present day.
About the gameplay, I will only say that you have to try it for yourself and see. The controls are really dated and if that's something you can't get past, this game will probably be left in your library unfinished; somewhere around first or second mission. If you can have a little patience, or if you actually remember the gaming experience of Resident Evil 1-3 as "having fun", you'll get used to it. Anyway, you will find out that the game is built around the controls pretty well and doesn't want you to do much beyond their possibilities.
As for the story, setting, atmosphere, etc., this is a classic cold war spy thriller, very well executed. While the story and the setting are rather gloomy, revolving around events in a small totalitarian country, the encounters are filled with a lot of humor and the dialogues are really very well written. The mixture of a serious spy novel with a absurd funny situations is not as bizarre as in Metal Gear Solid, the humor is more subtle, but nevertheless funny and sometimes very smart. The atmosphere of a dreary soviet-like country is mixed together with cool scifi stuff makes you want explore every little room, makes you want to progress unraveling the mystery and find out what you can about this particular fictional crisis. The visuals, while dated, do not fail at all to drive this point home. That's mostly thanks to the 2-d prerendered backgrounds which haven't lost it charm.
