I just beat it some 20-ish minutes ago and I conclude with mixed feelings.
It takes several steps forward (120+ cars, sizable city, car customization, lots of races), but it also takes several steps back (deplorable cop AI, stability issues). I still enjoyed it, even more so because Gamestop was pushing it out the door for $40 instead of the normal $60.
Well, that, and blasting down a freeway in the oncomming lane in a fully upgraded Bugatti Veyron at some 200 mph...