Well, I'm seven hours into the Metro. And I am having a great time.
I fixed the fov (75, I think) and applied some mod (http://gsngaming.com/topic/9669-metro-last-light-sweetfx-v14/) that made it possible to tinker with the gamma. Really my main issue. The game is too damn dark and the in-game gamma slider doesn't work at all. Made it impossible to play it at the LAN I just attended since there were always lights on.
Graphics are of course breath-taking. I'm only playing with 1280x720 and everything else off. Even there it's pretty amazing. Just happy I can play it.
The gameplay is great. I love the stealth aspect of it, even though I don't particular mind it if I go guns blazing once a while. The gas mask stuff is better this time around. I always thought it was confusing in the first game. My FOV fix makes the timer go further from the screen so it's a hassle to read it right.
I'm currently in an area where exploring is very possible, and I totally like that stuff. It's cool that I can take my time with such things and not feel pressured into moving forward with the story because of filters and gas masks.
Story isn't the main focus for me, but it's all right.