My first instinct was, I'll pick it up, but only because its $20, and when it turns out to be garbage, I'll bring it back.
Much to my dismay, the game is actually good.
Someone else has already made the same comparison that I have, and that the game is basically the equivalent of EDF for people that like driving games.
If I remember Correctly, CRAVE studios designed the game, they also did work on Tokyo Extreme games. So the car models and the sounds, are on par with a TXR game. The physics in the entire game are a slight bit arcady, but not so over the top that you try to jump your car off of every sidewalk.
This game drew me in immediately, and the only flaw I have found, that really stands out, is the fact that when you highlight something in the menus, your selection text changes from LIGHT GRAY to WHITE, which is almost un noticeable... I was on the last mission on one case, and managed to back all the way out and had to start from scratch...
I will say that the lack of ANY form of Online play really hurts the market value for this game, but for those nights when LIVE is down, and you dont want to play Fallout 3 or EDF, this game is perfect.