It gives some and takes some.....
What keeps NCAA 07 from being close to perfect is the fact that so much of the new additions that were a welcome inclusion in previous versions are missing on the 360. No more college career mode (Big Man on Campus mode), no more formation subs (wasn't that a staple since the 98 version?), no more coaching up players and exploiting rattled and less talented players, no more multiple position awards, no more historic teams or create a school; basically, it feels like EA once again short changed the 360 version of one of their most successful franchises.
For those that want a simple game of college football, then NCAA 07 360 is a great game, however, if you're looking for the familiar strategic elements that you've gotten used to, along with the expected bells and whistles of a nexgen title, then you may be dissappointed. If you still own your PS2 or XBOX, buy that version instead. You may find that you actually get more value for your dollar.