I loved the first one but it was flawed, I hope this is gonna be a lot better!
News: Test Drive Unlimited 2 announced - ComputerAndVideoGames.com

News: Test Drive Unlimited 2 announced - ComputerAndVideoGames.com
I think it's pretty good, despite simple features not being in the game, like not being able to sell you car, or organising cars around garages.
It's not marketed as a simulator, so don't expect anything like Gran Turismo, but it isn't an all out arcadey game, it's sort of in-between.
Graphics of the cars exterior and interior are good. That's about it though as far as visuals - the virtual world is 'okay' and avatars look horrible.
It depends what you're into though. If you like the idea of driving around a HUGE island without many limitations; cruising with others online; racing against them; buying mansions and other "Sims" like features, you'll enjoy it. If you prefer flat out races around a circuit, and nothing else... this isn't the game for you.