It's a blast. The bullet time effect is pretty cool, yet so far I haven't mastered using it. The police are brutal in the viper challenge.
Performance-wise, it's not far off from NFSu2. I am able to run about the same settings on both games. I think I am running 2X AA not 4X AA, based on their in game slider(which I hate), but therwise set the basic details to max at 12x10, without altering the advanced. I boosted AA one notch and raised texture filtering to max, and got about a 5 fps hit which made it borderline for my my tastes, yet still easily playable. I'm just glad 12x10 works well unlike COD2.