This is actually a re-read. I first read Greywalker back around the time Succubus Blues came out (I remember because reading Richelle Mead's blog lead me to Kat Richardson). The first time round, I didn't really care for it. I found the climax confusing and the whole Grey world was a little similar to an idea I'd been working on at the time, which made me sulk. I decided to re-read it because I thought the later books in the series sounded fascinating, and figured that now I was over the whole "OMG she stole my idea!!!" thing, I might like it better. So did I?
Well, yes and no. There is a lot I do like. I like PIs. I like ghostly other worlds. I like ferrets. I like Harper, the heroine who's near-death experience gives her the ability to see and interact with the Grey. I love Richardson's imagery when describing the Grey - this is a creepy, evocative book.
On the other hand, the vampires were same ol', same ol', and I still found the ending a but confusing. I mean, I got what Harper and her allies were trying to do, but how they achieved it and why kinda sailed past me. So. I also felt the book dragged in places, like Richardson was stretching the plot to meet a wordcount. I think there's a lot of potential for the rest of the series here (which is why I already went and bought Poltergeist, the next book), but as a first book, I still think Greywalker is patchy. When it's good, it's very good. When it's bad, it's a bit dull. I actually put it down and wandered off for a week or so in the middle and picked it up again without really missing it the way you do with a book sometimes. There were occasions when I wasn't sure why Harper was doing what she was doing - helping newly-made vampire Cameron take revenge on the master who abandoned him, for example. Harper took all the risk and had nothing to gain that I could see, and I was never entirely convinced by her reasons for helping Cameron. It was more like the plot required her to do so than the characters moved that way organically.
Despite one or two reservations, I definitely enjoyed Greywalker more on the re-read, and although I'm yet to be fully converted, I am looking forward to Poltergeist (and hoping for more ferret action).