If you have yet to play System Shock 2, by all means get your hands on the game. Bioshock is supposedly to be a spiritual successor, which is noticeable:
Similar/identical features
-Vending machines
-Vita chambers
-Weapon upgrades
-Hacking
-Wrench as melee weapon
-Feats
-Using voice over logs to progress the story of the game
-Plasmids works similar to SS2's Telekinesis powers
-Booze, cigarettes and chips
-ADAM is basically Cyber modules
-Researching by taking photo in Bioshock, collecting chemicals and applying on collected enemy parts for System Shock 2 = Bonus damage against specific enemy or knowledge of its weakness.
-Same story premise, in where you find yourself alone and isolated.
Though at the expense of missing features that may make Bioshock watered down than Systerm Shock 2:
Missing features
-Lack of distinctive 'classes'
-No inventory system (Tetris system)
-No equippable armor
-Lack of learning skill system for weapons
-No weapon maintainence (Which is a good thing)
-More distinctive enemies though its of small varieties. (Monkies, how could they forget to put monkies in Bioshock?)
So if you prefer depth and futuristic sci-fi setting, but at the risk of some frustration due to some design flaws in System Shock 2 (Weapon maintanence is a pain, ammunition is very rare), give it a try. Personally, I prefer System Shock 2's gameplay and suspense while I very much prefer Bioshock's presentation and production quality.
Greatest game of all time in Gamespot for System Shock 2:
http://www.gamespot.com/features/6130956/index.html