Right, I've played Grid quite a bit since it came, so I guess I could give a short review.
The graphics are great. The damage is very realistic and the scenery looks very nice. The handling is a bit, well, different. I think it's because I've been playing a lot of DiRT2 recently which is often raced on loose gravel and dirt which makes the cars slide a lot. I'd got very used to how cars handled in DiRT2, so the handling in Grid felt strange. Having said that, now I'm getting used to Grid I think the responsiveness, balance and acceleration of the cars is very good.
The other thing that is really nice are the menus. The floating 3D text looks very nice and the transitions between screens and menus is very nice. Two notable displays are the in-game/race "pause" menu. It has a cool little feature where you can change the camera angle very slightly with one of the analogue sticks. It's not much, and it doesn't add much to the game play, it's just a really nice feature. The other thing that I really like is the camera zoom between the cars on the starting grid. It looks amazing and flows really well.
We've not really got very far on it at the moment, but I'm very pleased with it, especially seeing as it was only £9.99! Great game, well worth a play. When we eventually get round to getting Live, I might see if I can join in with you guys occasionally.
So yeah, overall, a nice feeling, well finished game.