I bought it yesterday and enjoy it at least as much as the original.  My only gripe is that they simplified the tuning even further (which wasn't deep to begin with.)  Other than that this is the best Arcade style Rally racer I'e ever played.  It handles just as well as CMR, but feels slightly less in control (which I believe any racing game should feel like as you race around just on the edge of disaster, but able to maintain yourself.)
And the graphics are probably the best of any game on any system at the moment, at least in the racing genre if not all of them.  (Graphics Hoes rejoice.) 
Oh, and the music makes me want to wretch, but they have the Xbox backup plan for cheap sountracks: The customized user soundtrack.