Can you believe it!
Playability
You can't play it! Well, not enough to enjoy it. I'd like to play it but it's very hard to do so when you can feel the UMD spinning every 4 seconds and it bottlenecks out trying to stream data.
Also, this isn't The Sims you are familiar with! This is more like an RPG in a Sims environment. Most of the time you are doing the conversing (in Simmish language) and it's a Rock/Paper/Scissors thing. She says "this" you say "that" if it's a match, you get a plus. It's on a timed basis as well which is kind of fun, if it weren't for the choppyness of the streaming.
Load Times
The load times are normal and rather quick. The problem lies that every house is a different load time. So lets say you accidently go to the wrong house, that turns into a 10-15 second load time, if not more.
Graphic
The graphics are what you'd expect, similar to a PS1-PS2.
Sound
It has exactly all The Sim sounds you've come to know and love, and after this, you will hate. Of course, since it's constantly reading data from the much spun UMD, the soundtrack is off a bunch.
Overall
I might actually like this game if it weren't for the choppyness. This game is nearly unplayable. I've also scoured the net looking into this problem however since it's new, there is no information about it, not even on the Sims 2 official site.