Dead level one was great, free aim, just slowed down so you can shoot at whoever you want.
Level two you move the crosshair to the target it plasters him in X's and wastes ammo, no longer able to shoot freely.
I've yet to get level three, but I can't see how it'd improve. Wish there was a way to turn dead eye back to level one, or at least to choose to free shoot. It seems to of dumbed itself down/made it even easier. My one gripe with the game thus far.