PGR looks very nice and sound very nice. If you want to race in some of the most exotic cars in the world, this game is for you. It handles more like an arcade game, with a little bit of realism. You car gets damaged, and the physics aren't bad. The game plays very nicely. It would've been king of all racing games but there are a few shortcomings. The car list isn't very big and the races are very monotonous. And AI is very stupid... they follow a line during races (a la GT3).
Final Word: If you're bored with simulation racers like Gran Turismo 3, then this game definitely deserves a check out.