The original Alice game wasn't THAT bad. It was "floaty", but I never had hair-pulling frustration (the closest I got was the Vale of Tears on the moving leaf). Quick-saving is your best friend and I rarely had any problems beyond that (though I saved very frequently).
I would say, I don't think any console is selling Alice on its own. I do believe it's an add-on only for Madness Returns, not a PSN or XBL game.
But I also think it is absolutely worth playing. It's not really that hard (on easy) or long (6-7 hours), and it was enjoyable in its own right (ice wand is a killer). Also paves the way for Madness Returns, so if you have the option, why not? (and you net a few extra trophies/achievements along the way).