I Posted my thoughts on this in the network store section but i'll post here as well, The PS3 version looks very much like a striped down version of coast to coast which I have on PS2 so i'm making some comparisons seeing as Sega have the PS3 version labelled as a full game.
Graphics : Well it looks nice nothing to flashy, coast to coast does have 60hz progressive support so it was no bad looker either, comparing the two the PS3 version of course wins out here being in 1080 HD but to be honest not that far ahead.
Audio : No 5.1 support why not, surly they could have added that in, good to see the classic tracks are here be it the Updated versions, no Arcade or 8bit versions that you had in Coast to coast as well as the updated ones.
Cars : 10 cars compared to coast to coasts 13 and no upgraded versions or stats which coast to coast had which means the cars all handle the same, the number of cars really isn't an issue but it would have been nice if they kept the stat element that coast to coast had so they didn't all play the same.
Tracks : 15 tracks are here, coast to coast had 30 15 American themed ones which is what the PS3 version seems to be using, and 15 original Outrun 2 arcade levels. It would have been nice to have those as well for the PS3 version but 15 is a good number so no complaints really.
Game modes : 3 in all,
Outrun: your basic check point racing that we all know and love.
Heart break : do tasks set by your girlfriend such as drive pass the cars with out hitting them, collect coins on the tracks or stick to a racing line.
time attack : ie finish a route in the quickest time.
these were in coast to coast as well but with the edition of coast to coast mode which was basically outrun and heart attack modes in one in which you earned money to buy new cars, paint jobs and other unlocks like new girlfriends and other bits n pieces. coast to coast also had the full outrun 2 arcade mode.
Online. had a quick go it plays very well, you can turn on and off various things like catch up collision etc and it's up to 6 players. coast to coast had this as well so it seems strange that Sega have online in the title for the PS3 version as if this is the first time that outrun has been online when its not.
Overall It's outrun and a great game, personally i would have been happy to pay more for a complete updated version of coast to coast as the PS2 version wont play on the 60GB PS3, but what is here is good enough.