VTM:R isn't a particularly bad game, but it doesn't stand out as particularly memorable either. The combination of medieval and contemporary settings is a novel idea, but the game takes a long time to get going leaving the medieval section mostly forgettable. Running into some of the characters from the medieval period again in the contemporary setting adds a nice twist. Also, despite the addition of various firearms in the contemporary part of the game, I found myself mostly relying on melee because it needs less micro-managing.
The gameplay itself is completely linear and the city / town environments between quests are very small leaving let sense of exploration. The quests themselves are run of the mill kill your way through a dungeon until you reach the end and the plot moves forward. The game has three endings, but nothing you do until the very end makes any difference as to which ending you get, so it's just a case of saving before the final battle and then reloading to see all the endings. The graphics show their age, but actually aren't that bad once you get use to them.
If you are really into vampires, or are a big fan of RPGs, you'll probably enjoy the game. If you're more of a casual fan of RPGs (or not a fan at all), you could probably skip it.