Just some quick impressions (get ready for mucho comparisons with THPS3):
The graphics:
The levels are awefully jaggy and flickery, more than THPS3, but they are bigger than THPS3 levels. The secret areas are usually bigger than the area you start out in. The skater animations are a little jerky, especially on falls and bails, etc. The textures are great, and the characters look nice. The game has a slightly different artistic look than THPS3.
The gameplay:
Not much different the THPS3. The grinding and manuals are the same. The grabs are too. The only difference is the spin mechanics, which can get confusing. The goals for the levels are more skating oriented than in THPS3. They all involve some trick or skating to a certain place.
Sound:
Eh, it\'s ok I guess.
Other:
The game lacks a create-a-skater, but has a a level editor, which I have yet to touch. The menu is kinda cool, though.