A step down from the PS2 version. That's right, I said it.
Online play is so-so. About half the time the game was too laggy to play very well, and other times it was fine. It would even change during the same game. At least you have the option, which the PS2 version does not have.
The visuals have improved over other versions of the game, and do look pretty good. Not great, but good. EA does win in this department.
The lack of licensing for teams, stadium, and players is pretty sad. It has improved from WE9, and it would not be a big deal at all if you could edit the info yourself. That's right, in the 360 version you can edit are player names, but that is it. You can change anything you want in the other versions, but the 360 customers get the shaft. Seriously, If you have more options on an inferior system then you do on a top of the line system (while the game costs more to boot) you have failed your fan base as a developer. Failed. I understand the implications of people editing non-licensed teams and taking them online, but give me a break. If Konami would release a patch over xbox live to re-insert these options, the game's score would jump considerably.
Before I bought this game for the 360 I would never have advised this, as EA is the devil and Konami has always had the better game: play both PES 07 and EA's FIFA 07 before you make your decision. The game play of PES 07 is the clear winner, but Konami's spit on my face is a bit infuriating.