Xbox version here. I am somewhat disappointed. It is some ways better and worse compared to the first (and the first was crap!).
Decal placement is a PITA. It is not smooth or precise at all. Extremely way too sensitive. Want to position it just right? Well it is going to take a few tries. One little move equals to one huge move. This is a major problem for me.
Picking and adjusting colors are crap. There is now no color box or chart (whatever you call it). Before was much better and easier.
Tried to paint the top of my Miata black. The rectangle shape was lighter than the circle shape. That is right, it is maxed out to black and somehow the circle shape was darker. Another major problem for me.
The only better things are more decals, no limit in decal sizes, custom livery slots, and mirror mode.
Doing detailed paint jobs will be a nightmare. If you have OCD then forget it.
Screw them for not doing their homework and having incompetent testers. There is also a great chance any of this will not be fixed. There is no excuse considering there are older games out there that do an excellent job.
Your mileage may vary.