IMHO, it sux.
It plays almost like ps1, only physics are even worse (???how's dat possible???). It looks ugly, it plays ugly, it's plain ugly experience. My recomendations are:
just stick to the originals. Or try thps2x for xbox and x360. It's like thpshd, but it has ALL the levels from thps1-2 (+ extra) and co-op for up to 4 players.