What an incredible technical achievement on current hardware. Also, the most fun I've had with my console by far, and I wasn't a big fan of the series. I hate driving games but can't tear myself away from racing around the map. The great thing is you get better with practice. Spent all of one night going head-to-head with a friend on a sky diving challenge. Spent another session just shooting touch-and-gos with one of the Helis. I swear I was feeling transitional lift. The shooting mechanics are also top notch. Rockstar came through.
Here's an album of RL comparison shots!
Edit: I'm on the PS3 disc version.