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Return To Splatterhouse 3D is better than the first with improvements all around (except in terms of weapons). And a lot more DIFFICULT too. ^^
Graphics are similar to the first game, of course, but there are more textures and objects around akin to SH2. The 'void' levels are very nice...eerie purple glows and not much 'substance' to what you're walking on (plus those nifty fire things as walls). Of course the new enemies are either ripped well ('Evil One') or are flat out new (Dr Mueller, I believe).
Sounds are pretty much on par with the first game. And at least one of the new enemies will freak you out with its spawning noise (as it'll be crashing into you right after you hear it).
Gameplay (and how fun it is) is also similar to the first game. There are a handful of new enemies and obstacles to learn about before you can handle them (and a few old monsters have new tricks) although for some reason I think there are actually less types of enemies in Return (I only remember one Eating-Machine/Boreworm encounter for instance).
Be warned, this one's even more difficult than the first. The final two stages are vicious in what comes screaming after you, and you'll definitely come to hate one of the new enemy types. You also have to 'think' a bit more to get through this game (there's at least one level halfway through where you can flat out get stuck with bad key management, fortuntely you can suicide on an enemy there to restart). And the storyline follows SH2's fairly well after a certain point (you'll remember the Dr Mueller > Portal 'Guardian' > Void > Escape segments) although it ends slightly abruptly without the expected final boss. There are a few boss fights again, of course.
Fun, but expect to repeat the later levels a few times.