wpegg: What are people's views now the hype has settled?
It's not really that the stealth isn't that good, IMHO it's tons better than Dx HR, less random, it's mostly that it's a more fun when playing "non stealth" or at least non-peaceful as you have tons of cool deadly powers. Also even at the highest difficulty level and without investing in combat power, Corvo is still a very competent fighter, so even if you badly mess the stealth part you can still easily dispatch/evade the guards; unlike Thief stealth is just "an option" not the only valid option if you want to survive.
But otherwise, the level design is a lot smarter than DX:HR, a lot less "
hey look a cardbox, maybe there is a ventilation shaft leading to alternate route behind.", you really have multiples possible route and they make sense. And the blink power is really fun to use to navigate around silently and rapidly.
Waiting for Theif 4 (with not that high expectation I must say) it's probably the closest you can get.
Just a personal advice, if you plan on playing stealthy I would recommend to not get the "Dark vision" power, it's basically the "cheat" power, IMHO it gives you too much info and you can abuse of it without wasting any mana.
F1ach: I think the problem I had with Dishonored was that, once you buy skills, the game is broken, it's probably unplayable without skills, but when you buy skills it's too easy, the story was pretty meh for me too.
I finished my first playthrough (ghost/pacefull) with only upgraded blink, for stealth you hardly need anything more. But it's true that if you go for the "killing machine" route the game is suddenly a lot easier as you don't have to worry about getting detected and have lots of deadly powers to quickly dispatch any opposition.