I'll start with the niggles to get them out of the way.
bad control scheme lacking the customization that we expect
Very long load times
Drift races should have been left in the past with the likes of nfs underground
thats it for the bad points although annoying, the good points far out ways the bad.
Great graphics not GT5 but it didnt take 5+ years to make
Great special effects
A wide range of famous tracks including the punishingly hard Nordschleife
Value for money unlike some games you'll be playing this for weeks/months not to mention the online play which is great
Overall the game is excellent and I recommend it like I said its no Gran turismo, but hopefully it will keep race fans satisied until GT5. I also forgot to mention all the great cars on it, excellent.