If you watch the show, you'll love the game that stays near 100% true to the televised format.
The concept behind Jeopardy! is based on a mere reversal of the standard: answers are given, and contestants provide the questions. Two rounds, each with 30 questions in 6 categories, make the main game, with the money doubled (and difficulty increased) in that 2nd, Double Jeopardy! round. Hidden 'Daily Doubles' allow players to wager some or all of their money to make a big move, and the game-ending Final Jeopardy! gives all players the chance to wager a portion of their earnings on a final question.
The most positive thing to say is that it's incredibly faithful to what you see on your televisions. About the only tangible difference is that the clues are read by show announcer Johnny Gilbert, though host Alex Trebek occassionally pops up to congratulate you or deliver the bad news that you got a question wrong. He appears less frequently than previous incarnations, a real plus as he's still there often enough that you feel immersed in the show universe, but never so much that you scream at him to go away. The FMV is smooth, and the skipping in previous games is gone. The sound effects are a 100% match, as they should be, from the bleep-bloop of the money amounts filling in at a round's start, to the famous Final Jeopardy anthem. A great (and optional) time-saving feature auto-fills possible answers after you've selected 3 letters, super when your response is "Declaration of Independence." (the beginning 'What/Where/Who is...' is assumed a part of your answer) While some may feel that makes things too easy, if you're typing in the wrong answer, the auto-fill will be wrong, so that's not an issue except in rare cases where the correct answer matches the first few letters of your wrong answer. The only real extra feature is a timed, sample contestant exam.
Negatives are few. Since it plays like the game, the biggest negative is that you need to like the show to like the game. The questions are also a tad easier than the show, and smarter players can quite easily rack up scores well in excess of $100,000 (which would take several days on the show), though an unlockable Tournament of Champions mode does increase the difficulty some. Clue placement relative to dollar amount occasionally seems odd, with a frighteningly easy question sometimes sitting at the bottom of the board, where the most difficult questions should be. For categories like 'Starts with "FISH",' the auto-fill feature can sometimes be abused to a degree. Obviously, the finite number of questions will eventually cause some repetition, but with over 6,000 in the database, there's theoretically enough for over 100 games.
Gameplay is solid, and the wheel you scroll to choose letters works pretty well. A simple solid array of letters, as used in a PS1 version, might've been faster, but this is the fancier presentation. Graphics and sound are simply a match to the TV show: they're nothing compared to an action game, but they strongly convey the feeling of watching the show. Anyone walking into the room when you uncover a Daily Double or play Final Jeopardy! would think you were watching TV. While you can get a lot of game time before exhausting the questions, eventually you will hit repeats. All in all, the verdict is simple: you should like this game every bit as much as the show itself. If you hate the show, don't buy the game, but any fan will 100% love this game.