The Best Hoops Game Available
The gameplay is very solid (AND it has a Franchise mode) and is definitely more simulation than arcade. I usually lean towards the EA games when it comes to sports , but basketball has always been the one sport that I've never really had a favorite between 2K and EA. Over the past couple of years, EA hasn't stepped up to the plate like the 2K series has and has solidified its spot as my #1 hoops game.
If you are torn between the 2 and don't know which game to buy - then I would suggest renting them. The biggest turn off of NBA Live for me (other than the gameplay) was the exclusion of dynasty mode. NBA 2K6 delivers solidly in all aspects of the game and this is definitely the right choice for any hoops fan.