I ruined this game for myself
at first handling is very heavy and the City and street design well bad but it was fine and I was enjoying my time until I decided to returned to Burnout Paradise to see how it feel again and boy..it made NFS WM completely unplayable for me, what a huge let down spiritual successor.
I can't say that I have an issue with the handling...I too went back to play burnout paradise recently and felt it was way too aracadey. The 60fps was nice though, would have helped out a lot with nfs mw. The abundance of ramps was nice too..they're everywhere. Also paradise city is a nicer theme imo (and arguably like you said the street design/layout too), but I'm preferring NFS definitely on handling...and being on a portable

Hit the brakes more!
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For others curious about the game still: The drifting is also a lot of fun too...although it can be hard to navigate between traffic at really high speeds and around corners, especially if the framerate is starting to drop...but is usually manageable if you are not playing crazy (you can't expect to move sideways too fast at those speeds). I can just pick up the game and drift around the city not doing any events in a single car for 15 minutes and put it back down. Rinse and repeat like 10 times a day.
Up to 26 hours on it so far, wishing the police were slightly harder (not quite like the console version but it's often too easy to lose police on the vita). Also wish there were more races tbh, I'm expecting DLC - which I will likely get (at least for the console versions, would really appreciate vita content too of course but who knows..they said they'd let us know).
It is great fun at the full price, good graphics imo, especially for the large scope of the game.
There will be a few textures that you don't like (for me it is the shopfront textures which don't look as good during the day - very flat. At night they light up so it looks ok)...and that is pretty much it. I can live with the dirt that others mentioned as it seems fine really. The cars, the track, the polygon count for the rest of the city architecture, the lack of texture/car pop-up, various bits and bobs floating around the road, the shadowing (despite slightly lower res - look at them when you are landing from a high jump or when the road you bend around changes from going towards the moon to behind it...notice the shadow change shape and the headlights then cover it), the reflection in the car mirrors ...the collisions that you aren't a part of...everything looks really good. Except the driver's hands being glued to the steering wheel

(which you probably won't notice, as well as police drivers popping up when they're close). It looks good, doesn't take much away from the fun of the game and I am reasonably impressed even in that department - nice, clean look with a few treats here and there.
I actually quite like the pixelated view of the head and tail lights (of traffic cars) as it reminds of driving irl (especially at night - which looks great in this, all the shadows are properly done). You may not have noticed but the lights actually go through the road a tiny bit too (helps spot traffic under/over hills). And they make it a lot easier to just distinguish at fast speeds as well as otherwise causing too much of a framerate hit.
Fun cars, good handling, decent traffic and physics...but you have to keep switching cars to experience different races (switch to a different class of vehicle in fact) - so you do feel like you run out of things to do with each car quite quickly. Good thing there are a lot of great cars but you'll be doing some of the same events again.
Modnation is a game that really suffers due to poor framerate despite otherwise being a good game. Although the framerate can drop in NFS, a bit more when online too, it shouldn't affect the gameplay and the enjoyment of the game* - as it does occasionally make it more difficult, but still do-able. Switching to first person for a moment can really help you to see what's coming (but only for a moment as the view is too low down) - easy switch by pressing circle. Framerate usually returns back to the 30 when it's dipping by this. I think most people won't even notice/benefit from the extra fps too much as the speeds are very fast for it to dip (usually only in races/connected online too).
*I know most people will be ok, I can see it from the review comments section and from other posts talking about it, they can sense it but it doesn't really impact them - it sort of adds to the sense of speed in a way (it usually only happens at very high speeds anyway). Most people will be ok, but they may get frustrated with it due to car handling being a bit more challenging and a small detail - the way the camera works...it stays very stationary while your car pivots around it a bit so when you turn at fast speeds it's harder to tell how your car is moving exactly or the direction it's headed...so you have to really pay attention to the road, speed and the input you're giving - more planning and less reacting (standard for racing) but becomes even harder with a dropping framerate..still, it's fun let me tell you.
If you enjoy being able to pick up the vita to go speeding around this city at high speeds in nice cars and occasionally do a race or go online then this can be really addicting and easily worth full price. I can see from the friendslist (nice in-game comparison feature) that quite a few are in their 20s' for hours on this game - I've hardly even touched multiplayer. I will do soon though as it does wear thin after a while of completing and collecting everything in singleplayer (since no random racers driving around (unless you initiate a race, and then finish it, or cancel it straight away) - and since the police aren't much of a challenge).
You level up in mp separately and can also host a friends game where they just drive around your city, no events (which can also be customized).
If you don't enjoy wasting time and speeding around and just want a traditional racer with loads of races to do...you'll be a bit let down that there isn't so much to do, especially if you don't have the patience to find a decent group to play with online (can set up some great races with custom speedlists - although still not sure how to start one in a public game..)
haha sorry for wall of text, might re-write it later and put in the reviews thread once I've played more MP.