A real man's game
This is probably the best sim you are going to get on console. The game is punishingly hard, due to very realistic handling. This is a title that rewards persistence and skill, fully recommended to non-game PC owners looking for a real racer and not a 'fun' arcade title.
The game has functional graphics, they're not going to wow you in this day and age - but there is no tearing, pop-up or other nasty glitches. Music is sparse, but the engine sounds are spot on, the larger cars really make you feel you're driving a mega-fast death machine.
The modes are what you expect and feel somewhat clinical, but you get what you'd expect. The career mode allows for unlockable cars, tracks etc and the quickstart option is great for practicing or filling in an empty 10 minutes.
All in all recommended if you enjoy a challenge and/or wish to drive real cars at ridiculous speeds but can't.