Not as bad as you think.
Bad: Graphics are no where near as good as NBA 2K7, most player faces dont look anything like there NBA counter part. Sometimes freezes, No commentators what so ever, it's sometimes really hard to get the opening tip off (if your playing a friend or someone online). Ridiculous backcourt violation and reach in calls when you havent even made contact with the player. No Life mode. No Franchise mode. $60. Awkward controls, sixasis is pretty useless here. Only way to stop the offense is to block a shot, steals only come during fast breaks. Sometimes lags when online. Its more of a dunk fest than an actual NBA game.....
Good: NBA Replay more than compensates for the lack of the Life. NBA Replay really extends value. Minigames like skills challenge and 3 point are a lot of fun. Some textures look really nice, even some player models look impressive, looks awesome in HD. Shot meter works to perfection, blocks look great, season, playoffs, create a player all here. Kobe Bryants on the cover..
If you like NBA basketball, and you have a PS3, i would rent this game before buying it, if your not into NBA 2K7 I would definetly go with this game though.