I am a fan of compressed games, but you need to know the trade-offs for Rearmed specifically:
Yes. Bionic Commando: Rearmed is a masterpiece of game design. The fact that it is no longer commercially available makes the highly compressed repack the only practical way to play it on a modern PC.
The Pros:
The Cons:
Playing co-op in a highly compressed LAN setup is magical. One player distracts enemies while the other swings ahead to hit a switch. Just beware of "grapple griefing"—accidentally pulling your partner into a pit of spikes.
The beauty of a highly compressed game is that it is often bundled with performance tweaks. Here is how to make Rearmed run on a potato PC (think Intel Atom, 2GB RAM).