Reflex looks and runs much worse on the PS3. Environmental textures often fail to load. There's little color separation making environments blurry and hard to read. There are also frequent frame drops and slowdown that can mar the intensity of a race.
Rider balance system is a welcome addition; Track deformation transforms how you race; Comprehensive Online Mode
Presentation lacks imagination; feels last-gen, Career progression is a snore, PS3 version performs much worse than 360