My advice: Play the second one completely (if you haven't already), then play through the first one. Pay attention to stuff lying around the rooms (bodies, masks, pink flyers, newspaper clippings). I played the first one, the second, then the first again, and I found so much stuff I didn't see before.
Yes it is for sure. That's in contest for my favorite game of all time. Man that game is the **** . I've beaten it at least 30 times. Once I beat it twice in a night lol