Picked it up yesterday for PS3. Totally agree with the graphics. It's like watching a youtube video, especially in the cutscenes. It seems many games are being released now in beta stage. That was one of the fears when the XBOX360 included HDDs.
Settings for the wheel need adjusting of course, but for me (G25) I think I have it the way I like.
I find this far more accessible then GT5 so I'm very happy with the game overall.