I like everything about this game - except for the physics. But then again, don't we all hate physics?
For one, the physics are awful. Not just the ball physics, the player physics are abysmal, too. Sometimes when you use the new post control and fake your defender out (then pressing X to put in an easy shot), your player will leap flat-footed about 8 feet for a huge slam. The players often look like they're feet kinda slide on the floor, or like they're feet aren't moving fast enough to keep up with their bodies. This make them look awkward when moving around on the court. The ball sometimes moves REALLY fast through the air when you pass it, sometimes it moves slow. Also, its virtually impossible to steal the ball or block a shot. Besides those graphical issues, the gameplay is actually quite realistic, and you get some very realistic stats when playing 20 minute halfs (it just looks bad). The only other gripe I have is that a lot of arenas aren't in the game, even those in power conferences (like the Big Ten).
Outside of the gameplay, the game is really good. Recruiting is just the right difficulty level, thanks in some part to easily navigable menus, which are present in all facets of the game. I really like the alumni challenges, which allow you to upgrade facilities, which in turn affect recruiting and player attributes. The schedules aren't accurate, but I don't mind that too much.
All in all, if you don't mind some bad physics, then you'll get a lot of enjoyment out of MM08.