I will write this review with the assumption that you all have played GTA3. Overall this is game improves on everything in GTA3 and adds signifigant depth with many more weapons, vehicles, great music, and a much bigger city to explore.
First off the graphics are slightly improved but they aren't great. There is a brighter overall look as you would expect from the change of locale. The damage to vehicles including shattered windows and shot out tires is well done. The character models are ok but they walk like they've all had double hip replacements:) The gameplay is the same mix of racing, fps, and a heavy dose of fun that we all enjoyed in GTA3. I found that I enjoyed simply driving around and exploring more than GTA3. Maybe because Vice City has a more open feel to it. The motorcycles certainly make it more fun. The missions are more varied than GTA3 and they are well done for the most part. The story is bigger and more cohesive from what i've seen so far. I feel more compelled to move the story forward than in GTA3.
The sound is outstanding. There is just so much stuff to hear that even after 30+ hours i'm discovering new songs I love and comments from npc's that leave me laughing. Ray Liotta was a great choice and all the characters are voiced well outside of Ms. Cleo doing the old woman.
To put it simply if you like video games you owe it to yourself to try this game. I don't like fps or racing games and yet GTAVC is one of my favorite games ever.