Beside the graphics, I don't think the game is so bad. The driving is meh, because - once again - the game world feels just way too compressed and full of narrow corridor canyons, etc. But the actual shooter part is pretty fun for me. There should be less driving and more "normal" shooting in the game. What annoys me a lot are the ever-spawning bandit cars in the wastelands. It's always the same, over and over again and you can't do anything against it.
Regarding the graphics, I had to punch over a few tweaks in cfg stuff, etc. to make it playable. The texture popups had been just way too much- it just kills all the fun. Now, with some tweaks, the textures aren't popping up so much anymore and the game is playable. The amount of graphic options in the pc version is hilarious, though. Resolution, anti-alising and brightness. Wow. I mean, seriously. What did they thought?