I got this game with my PSP and I've never stopped playing it since. The PSP hasn't failed to impress me yet with it's graphical capabilities, and Burnout Legends shows off just what the PSP can do with a racer.
Pros:
Good frame rate, amazing detail and sense of speed.
With lots of levels, unlockable cars and trophies, It will keep you playing.
Cons:
At times it can be a little hard to see the oncoming traffic until it's too late. Some road and vehicle polygons disappear from time to time.
No car stats.
The load times are really too long (30+ sec) which can be annoying.
This is a must have for anybody who owns a PSP. It's a unique racing experience and so much fun too. I guarantee you will not be able to put this game down for quite some time.
If you have Burnout 3 on PS2 you might be disappointed as you wont find anything new here, except the cars and tracks from Burnout 1 and 2.