Good, but has its faults.
I like the fact that they have the NBA All-Star Weekend with the Freestyle Dunk Contest on the side. The dunking and 3-point games are a good distraction to play with friends for a while before realizing that it is the same as other NBA games. Some things I do like are the icons to show what players skills are highest and the smoothness of running certain plays. I generally find myself a little mixed up with the scoring though. I always win easily if the game is anything between rookie to pro, and almost always lose if it is anything higher. It seems that the concept of difficulty isn't a smooth transition between each level of the game. Plus, the controls for the dunking contest can be a little hard to figure out. You can perform a move correctly and still not have it work right.
There are some problems with the game, but they are ones that they can fix in later editions of the franchise.