When we played it, we had just finished It Takes Two, which was also great, but Split Fiction immediately dethroned it. I can't wait to see what Hazelight comes up with next.
I'd highly recommend Split Fiction, both for its game play and story. It is also superior to It Takes Two in that there is no part where the games "to continue playing, press X to dismember your daughter's anthropomorphic stuffed animal to make her cry". That was a jarring and unpleasant shift in tone for an otherwise mostly light-hearted game.