The worst in the series by far.
It has a lead-up to one of the weakest endings in a game, even weak for a sports game. The graphics have hardly improved since THUG 2. The one on X360 is way better, mainly because of the fun you can have trying to bail with the oddly low-gravitized physics.
This isn't worth a rent, and definitely not a buy. The multi-player is worse due to the bad level design.
There are better Tony Hawk games out there (aka every single one), except for Proving Ground, which manages to be even worse than this.
Aw, well. This game isn't THAT bad, but still.