I'll try and adress some of the issues people have been pointing out.
1) Loading times take forever: You will have to make a 10 minute install & update for the game when you first put the disk in, after that you are asked if you want to fully install the game to minimize loading times. Installing solves the problem. Yes, it takes 50 minutes but just do something else while you wait, unlinke most people who seem in-capable of waiting 50 minutes having waited over five years for the game.
2) GT mode is tedious at first: There are two modes to the game - Arcade Mode (where you can race in a variety of cars, on a variety of tracks, complete time trials and do split-screen races) and there is GT mode (where you complete a driving career of buying cars, completing races/championships and participating in special events). In GT mode you must start off with lower powered cars, as certain races require different criteria, like the classic pre-1970 supercar races etc... If you don't want to start the game in this "tedious" manner, then use arcade mode instead!
3) Damage modelling doesn't work: The damage feature of the game gets progessively more realistic as you go through the game, a novice wouldn't exactly want to have to end every single one of their first races because of not having built up driving skills.
In general it's a fantastic racing game, the graphics are excellent and every car has its own unique feel. It's not as addictive as other games, but as far as driving games go it's brilliant.