It's not NFS, but then, it's not meant to be.
Before I say anything about the game, let me say this: if you are a fan of American cars or don't care about driving on an exact replication of Tokyo's highway, chances are this game isn't for you. Being a JDM nut and a bit of a geek when it comes to the reality bit, as well as the series it's from, I found the game to be absolutely fantastic.
The gameplay itself takes a bit of getting used to, but nowhere near that of the old games on the PS2. The car handling has been greatly refined from the old games and feels much more natural. You can feel that upgrading your car actually makes a difference in how it performs. And not just in ways like adding 75HP to your engine, but in smaller ways as well, such as putting in a new clutch or changing the angle of your spoiler.
The graphics as well have recieved a HUGE boost for the 360. This game has to have some of the most detailed car models I've ever seen. In this, when you change out the muffler, you can see the difference in the piping underneath the car, all the way up to the engine. Also, this is the first racing game I've found with a customizable interior that can still be seen even when in an exterior view. Also, upgrading your engine not only increasing your power, but in an addition NO OTHER RACING GAME I've found has, actually switches the parts on your engine. So if you buy a level for engine mod, you'll see that hood pop up and the factory parts be replaced with new racing ones.
The sound is one area where this game does, unfortunately, slip a bit. Though the engine and tire effects are excellent, the background music is a bit annoying. However, this is a problem easily remedied, as the game supports custom soundtracks.
This is also one of the longer games I've been through recently. I've put over 20 hours into it and am still only around 45% completion. For a street racing game, that is excellent. Unfortunately, the amount of available cars is pretty small, but the sheer amount of customization nearly makes up for it.
In summary, Import Tuner Challenge is a game that doesn't try to compete with other street racers, because it's funamentally different. If you're a fan of the Tokyo Extreme Racer series, or have an interest in Japanese highway racing, I'd suggest giving this one a look. It's one of the few games you can probably use as a map, should you end up on Tokyo's C1.