Being an experienced real-life motorbike rider, I found it to be the game which best recreates this life experience.
The variety of models and the similarity with bikes in real-life (from the BMW front suspension working while braking when curving to front-wheel feel to the body mechanics influence in riding) makes it, by far, the most realistic game for riding bikes.
I particularly don't enjoy the games that invest in "arcade" modes, where bounces, crashes and what-not are plastic and 7-cat-lives-style. Although if one really prefers that style, the game has it also.
Suggestions for improvement:
If I had to make a single suggestion it would be: allow more race modes, with full race length and significant number of riders involved.
Glitches and faults:
A minor inaccuracy I spotted: the VFR has 105 bhp, not 80. By now you've probably figured out which bike I'm currently riding :)