Bah... I need to buy a PS3 so I can play this game, because I really looking forward to it!
Gt games has never been on the top when speaking about realism, but they have been great fun and somewhat rewarding. Also the setup options is not that big either, but enough to customize your vechicle some. (no I am not talking about spoilers and such, the setup of the car, like wing options and such). Also the car upgrade shop has allways been pretty "complete" in my eyes. No need for superfancy stuff, but you got the normal things like gears, tyres, engine, body veight and other stuff, simple but enough to be entertained.
GT5 has probally the nicest looking racing game graphics out there, but are not on top in the other cathegories. What it scores on is that it has much of everything, making most people pleased regardless of what kind of racing they like.