TBW is probably my favorite of the series.
Oh, it has it's problems, for sure. Gabriel's actor plays the part a little too low-key, but Tim Currey's take on the character would probably be a little too over the top for live action. A happy medium would have been great. Grace's actor is by far the worst in the game. She's fine in most situations, but during the more dramatic scenes, she usually goes completely over the top. Anger or annoyance comes off as absolute rage and hate. It's very jarring and makes Grace seem like a psychotic b****. :c
Yes, the sets look cheap, the video quality is terrible, and the CG is downright laughable. There are less puzzles than in the first game, and a few of them are almost nonsensical. Sometimes the game doesn't progress because you haven't looked at something at the right time, or with the right information before hand...that can be frustrating. Also, there's less interaction than in the first game, and less puzzles. It is helpful to think of it less as an adventure game but more of a combination of an adventure game and an interactive movie.
But I promise you, the game's strengths far outweigh it's shortcomings. The supporting cast is, for the most part, excellent....especially Von Glower. The plot is exceptional; though things may start a little slowly, things quickly become very enthralling, with some very spooky and downright disturbing moments. The way it ties itself in to history and mythology gives the story some real weight. Also, it does a great job with the contrast between the Gabriel and Grace segments. Grace is all about connecting pieces of a puzzle methodically, while Gabriel tends to jump into situations headfirst, taking a much more intuitive approach. It plays out great.
Wow. Wrote a lot. Sorry. If you haven't gotten into this game just because of your first impressions, or because one of the shortcomings listed above, I strongly encourage you to stick with it. This game really pays off.
tl:dr - The game has it's fair share of flaws, but the story and pacing are exceptional. The good far outweighs the bad.