This game is admittedly starting to grow on me, and my vote is "yes," but some of the posters in here are making it out to be more than what it actually is.
I think Sleeping Dogs is a decent title with some consumable carnage and a nice motif. It's the 'denser' version of Just Cause 2.
The hand-to-hand combat is all it has on GTA and others in the open world genre. That ain't sayin' much; I'd call it a destitute fellow's Batman: Arkham City. There are some very satisfying environmental kills, but the combos aren't anything too intuitive and the action or 'flow' of fights have a tendency to feel a little contrived and sluggish as a whole.
I cannot believe there are people in here saying it has a better story than GTA V. The plot of this game is so incredibly predictable and does not live up to its massive thematic potential with its "Triad vs Cop" dilemmas. Ubisoft made improvements in the voice acting department by hiring some serious talent, but there are still small auditorial glimpses from the horrific mess that was JC2's vocal ensemble.
Graphically, there's nothing good to say. A lot of pop-in and AA issues, vehicle models are iffy and lip syncing is pretty poor. I'd say on the same level if not a little worse than Saints Row.
Driving isn't horrible, but it does fail to compare to GTA V. You'll think it's a joke the first time you're in a vehicle, but eventually you accept it as being so painfully average and inauthentic that driving around without banging things up becomes a breeze.
Shooting sequences are straight forward and you shouldn't find yourself having any troubles with them. They include a bullet-time-like mechanic when popping out of cover, which can savor some otherwise vanilla gunfights.
And finally, there's the map. It won't win any awards for size, but it feels about right. I've never been to Hong Kong, but I wouldn't be surprised if someone who has said the designers did a nice job capturing the defining elements of the town.
I'd get it cheap if I were you.