Spectacular graphics, car physics, and sound quality. Extremely short, though.
The few problems with the game that I have found is that it is extremely short and, unlike the first one, your stunts do not show up in the trailers after you complete all of them. This may only work for the PS3 and XBox 360 versions just for visual quality, but the trailers that I've seen are just preset in the trailers, so it's as if your stunts are totally pointless (When I get my PS3, I'll have to check this out).
Another problem is that there is not much direction, sometimes you will just be stopped out of nowhere and you're told that you went out of the shot when there were no arrows telling you where to go. This happens very few times, but there are just some spots that have no directional arrows or anything.
The physics engine could have been a lot better, the amount of clipping in this was unforgivable. It would be different if you weren't going for a realistic look, but that's more of a pet peeve of mine.
Overall, I'd say the game is worth a rent, but don't get overly excited for it, it's really not anything too special. It's way too short, and it's extremely hard. Give it a try.