It came in the mail today.
The pros:
1. It looks AMAZING for a PS2 game.
2. It has GHII style bonus songs.
3. It has a random band name generator.
4. The songs are fun.
5. Did I mention how nice it looks on the PS2?
6. You can sing and play guitar at the same time.
The cons:
1. No character creation.
2. No online.
3. No DLC.
4. Sabotage and Enter Sandman.
This game is win.