Pro: Graphics, Multiplayer, Garage for a whole lot of cars Contra: Price, career mode = license races from GT
The first thing that´s noticeable is that the game seems incomplete. There is no career modus available or at least nothing that could be characterized as such. Instead you get to do a few races on a few tracks with mostly limited car selection for each track. Somehow reminds of the License races you had to do at the first GT for the PS.
Apart from that there´s also no tuning, until you have completed the about 30 races which then unlocks the tuning option. And also the terrible penalisation (not during the "career mode") where if you bump someone you screwed and when someone bumps you, you´re also screwed.
To sum it up, basically you have a starting budget to buy a car, do some races at some point repeatedly to keep the cash flow going, buy cars that you may not really want in the first place just to get the races done to unlock the tuning mode.
All in all not really worth the money unless you play almost exclusively in multiplayer.