For the value, it's fun.
The create-a-player isn't really much at all. You have premade players, then you get to change the color of their clothes. GROUNDBREAKING!
The gameplay plays a lot like Mario Kart or Crash Racing. Race a few laps, and build up your power up bar by driving between cones. Shoot your weapon, and continue. Haven't played it on XBL yet because...well...I can't find anyone else to play with. I'll have to get back to you on that one, but for a quick run down, take 3 courses from Mario Kart, and play it online. There you go.