It looks like they incorporated a hell of a lot more than that! The blizzard as a major character, Max's motivation, the final battle from the first game looks to be intact and very close, and I think I even saw the burning restaurant.
I haven't played the game since it came out--and the second one, not at all--but this is making me want to reload it. Interestingly, the fights against the Russian mob along the waterfront and in warehouses now kind of remind me of GTA IV.
Tries too hard to give the "full story" -- not quite the original story but pretty close, with some embellishments -- and is slow in the beginning. Not enough bullet-time action. Nice look to it.
There's a bit after the credits.
A couple of details didn't make sense. Since you haven't seen it: if you're going to try and get a guy in bed in the way she did, don't cover yourself with a sheet
and I thought the guy blew that thing up so Max couldn't get to the roof, but apparently he got there fine.
I saw it. It's got a pretty nice visual style. I especially like the look of the snow falling. But the story is told in a less than coherent manner. There's a couple of characters in this thing that don't even need to be there.