Can I say this is the first game delayed for 2012? No? correct me if I'm wrong in the comments. But yes, Max Payne has been pushed back from a March release to a May release.
The new release date is May 15, 2012 for the Playstation 3 and Xbox 360, the PC version will be out on May 29.
We do not take changes to our release schedule lightly, and this short delay will ensure that Max Payne 3 delivers the highest quality, groundbreaking entertainment experience that is expected from our company, said Take-Two CEO Strauss Zelnick of the delay
Why the delay? there's no exact answer to why they moved Max Payne 3 to May. One thing's for sure though, Max Payne has no competition during that month. In March, Max Payne 3 will be in the same month as games like Mass Effect 3, Dragon's Dogma, Street Fighter X tekken, and a couple more . In May, nothing else that I know are coming out on that month.