It's not bad. I'll probably buy it once the price drops some more. The only ting that reeeally got under MY skin was when the framerate just plummeted for no reason from time to time, as well as almost always while the game was saving.
I will say though, the orphanage is probably the scariest part of the whole game - for a LOT of reasons. (For example, dark hallways with little girls singing and laughing. FUCK.)