I'm playing around with the beta as we speak :p

Sometimes the game can be very dull, sometimes it can be very great, so it averages out to be ok. Most of the levels you see on the internet are more fun to just watch than to actually play. There's a level copying Shadow of the Colossus which looks really impressive but when it came to actually playing it was kind of boring. Not that there aren't fun levels to play. The Wipeout stage was pretty awesome.

I haven't messed with the creation tools yet but Ill get around to it before the beta ends (which is the 11th I think). Not entirely sure whether Ill be picking this game up now.