Just finished Episode 1. I liked it. I think anyone interested in innovative storytelling in console gaming should check it out.
The game has a nice feel. I don't know how to describe it, really. The atmosphere is quiet, sort of inward or reflective. The music is soft and acoustic. The visuals have a storybook sort of look to them, warm, soft around the edges. I felt very relaxed when playing the game.
Like I mentioned above, the game puts a lot of emphasis on talking, both to others and yourself. There are a few "action" sequences (confrontations, supernatural events, etc.), but you spend most of your time clicking on environment objects and listening to Max's commentary, having conversations, and selecting various actions. Unlike most games, the tension here comes mostly from the relationships they are setting up.
When you use the rewind mechanic, you'll find that the outcomes of events are actually quite a bit different, at least in the short term. The devs promise that some of the actions will have reverberations in future episodes, but I can't judge that yet. The variation in short-term outcomes was a nice change from other games that supposedly feature choice, where the consequences aren't all that different (e.g., Bioware or Telltale games).
I like the way they develop the characters. Apart from the occasional part where they go overboard with the "teen speak," it's quite good. The characters are unique in the videogame landscape. I grew to like Max pretty quickly, and I feel like the other people in the story are pretty distinct (if a bit stereotyped) people. The relationship between Max and Chloe feels real to me, and it isn't idealized, but instead has problems. I like the fact that the developers are prioritizing characterization. That fits my tastes, although I know it won't fit others'. It is certainly rare in videogames, and it's done well here.
I like their storytelling style, too. It starts off slow, but it reaches a dramatic high-point by the end, which is a nice use of the episodic format. They cover a lot of ground, introducing us to a variety of characters, the general setting, and the main relationships.
I'd give it an A-. I think they did a fine job. I'm looking forward to seeing what's next.