Yes, the graphics aren't great, but you really can't expect them to be competing with the HD offerings on the 360 or PS3 can you?
And also contrary to the other review, you can make all the changes you like to your team, just like every other version of PES.
The World Tour is the main feature of the game, giving you your own team to travel the globe and face all nations that come your way.
If I was to compare this to another game in the PES franchise it'd be ISS98 that appeared on the PS One. While you may moan that the graphics should be better than a 10 year old game, you must remember that ISS98 was produced for a large console, not a tiny handheld.