Yes, I know there's another thread for "the good" but I am going to list both "the bad" and "the good" here.
First, it's awesome to be immersed in/excited about GT again.
Second, it sucks that it takes PD so long to develop new installments.
The Good:
I don't know if I've ever be as genuinely excited as I was when I found out I had pole position at the Nordschleif. Then I won the race. I never really thought that would happen... and that moment you realize you're in 1st and have a chance to win, it's a pretty remarkable/memorable feeling... didn't think you could get that from any game. So, I have to hand it to PD, that was the most fun (and gaming satisfaction) I've had since finishing that crazy Mission 34 in GT4
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Willow Springs looks awesome. Love those balloons.
The Ring looks great. Can't wait for some enduros with variable time/weather.
Cars look great.
AWD cars are easy and fun to drive.
I absolutely love the challenge of qualifying for a good grid spot and I love the suspense of waiting to find out where you ended up on the starting grid.
I like the random car awards. Keeps you coming back for more!
PD fixed the annoying and overbearing tire-squeal that plagued GT6
The Bad:
Few, if any, vintage cars.
FR cars are too difficult to drive and tune. If you want to win, you'll probably have to choose an AWD car.
Original locations. Who cares? I prefer real-world courses. Can't believe PD wasted time developing imaginary courses.
Agree that the Sportsmanship Rating system is too punitive and that it should be able to distinguish between accidental contact and intentional ramming.
Agree that the other new locations/tracks are a little underwhelming graphically, but I'm assuming that we'll be able to choose the sky and lighting conditions which will make those locations/tracks more interesting than what we're seeing now.
The Sounds are not that different than what you heard in GT6. The Focus sounds especially leaf-blower-esque. Other cars sound OK, but would have expected PD to have done more, given how long it's taken them to get this far. Somebody at GTP needs to make a leaf-blower emoji.