One of the best racing games on the Xbox 360, or any other console.
It's got good looking graphics, although during some races I see jagged edges on the cars, but they still look great.
The game has a nice soundtrack and it will never get in the way of your racing as it's always playing softly in the background. A nice mix of different types of music (classical, rock, techno etc).
It has great gameplay, and the Kudos system is a nice little incentive to try and race to your full potential. Execute drifts and breaks to earn Kudos points, once you have a certain number of kudos points your rank goes up and you earn the right to buy new cars. The cars! This game has an impressive selection of cars, you'll find yourself racing over and over again just to get money to fill up your garages with the latest cars you've unlocked or still need to get. Each car has a distinct way of controlling it, some will accelerate faster then others, but be completely uncontrollable at higher speeds, other will do the opposite. The entire game consists of 22 championships, where you'll have to either pass a variety of challenges to get the trophy and move on to the next championship.
Overall, if you're a fan of racing simulators, then by all means pick this game up, it should be about $30 now.