IGN has a preview of the game, it sounds VERY nice! here's a little excert from the preview:

The third and certainly most disturbing level we saw was the meat house. The massive slaughter house is really a two-part construction. In one part, players actually witness the inner workings of a slaughter house, complete with wide open kitchens, tile floors and drains for the water and blood to flow down, and racks of bleeding, hanging cows, hooked on swiveling lines. In this area, IO showed off just one of the new moves special to this third game. While the first two games emphasized long-range sniping and heavy artillery, those two styles of gameplay joined with close combat moves. Agent 47 can grab a variety of heavy knives and butcher tools to get his job done.

In this particular mission, we were shown the special qualities of the meat hook. Agent 47 grabbed a meat hook, snuck up behind a butcher and thrust the tool into his opponent's groin, and in the same swift motion, he picked up the enemy, threw him over his shoulder and carried him to another part of the room. Near a switch box, players can heave the enemy onto the motorized meat rack and watch him spin around. Just for fun. Sick fun. But hey, it is a game about assassination.

The other part of the slaughter house exemplified the darkness of this new game. The brother of the building's owner turns out to be a sicko, an obese Jabba-like man who's into young girls, sadomasochism, and death. His side of the building features his disgusting lair, a room in which the young dead victim hangs from a meat hook, and a bizarre underground discothÃ*que, filled with strobing blue lights and dancing people. It's all a bit disgusting.