I quite like it. the car choices are a little more limited compared to forza4, but it's mainly the "proper" race cars that are missing.
My main complaint would be the race classes are quite low, I'm upto the 5th wristband and am only just starting to get the chance to race in S class cars and even now some of the races require me to use b or c class cars, which just seem sooo slow :)
Visually it's very pretty but I'm going to have to complete some of the outpost challenges soon so I can jump to the outposts for free (10000 credits each time otherwise) to save me having to drive for 5+minutes between some of the more far flung races.
The tuning options are pretty much the same, and from a quick look the design options seem to be too (so you'll like it) and the music is brilliant.
The game does seem to like the vw corrado though, it gave me one to start and I've won another 3 of the things now :)