I've been playing this since release and am loving it. The game is very polished on world tour mode (the solo is practically non-existent but who cares), although there are some glaring design flaws in the peripherals -- as you're probably aware if you've been reading a video game blog over the past three months.
My drum pedal snapped at the spring within a week. I can virtually guaranty this will happen within a year to at least one of two people who buy this product until they fix the incredibly stupid design of the pedal that puts virtually no reinforcement over the part of the plastic pedal that takes the most pressure. Happily, I have a drill and am not completely useless with it, so I reinforced the pedal myself with metal braces screwed to the top of the pedal (following instructions off the internet, natch) and it now feels and plays better than before it broke. The incredible thing here is that prior to fixing it myself I had the company send me a replacement and the replacement piece has exactly the same design. I mean, Harmonix, baby, we're talking about two pieces of metal worth about 3 cents attached to the bottom of your freaking pedal. It's not rocket science. The fact that they made the drum heads so well and then screwed the pootch so horribly on something so simple is almost funny.
As for song selection, I agree about the repetitiveness of the beginning songs (In Bloom, Creep, Train Keeps on Rolling, etc.) but once you get out of New York you rarely hear them again and you get to lose again and again on The New Pornogapher's Electric Version (am I the only person who finds this song somewhat challenging? It doesn't sound challenging, what the hell?) My brother has already emailed Arts & Crafts and Harmonix demanding Broken Social Scene, and apparently someone from A&C emailed back saying they'd love to. The ball is in your court, Harmonix.