The first trailer for Max Payne 3 is here. As Rockstar's gritty artwork has indicated before, Max has gone from ruffled anti-hero to dilapidated mess. Luckily, trading in his bullet-proof vest for a stained, cotton variant hasn't robbed him of slow-mo shooting prowess.
It seems the game will use flashback sequences to connect Max as we knew him, to the bald man who "ain't a cop no more." Shaving his head is almost symbolic of the life Max leaves behind once he becomes entangled in a Brazilian crime ring. Also, it's way easier to render.
Max Payne 3 is scheduled to appear on PC, PlayStation 3 and Xbox 360 in March 2012.