Almost but not quite..
This game could have been so much better. The presentation seems rushed. Maybe I'm spoiled by Rock Bands robust world tour mode.. where you get random gigs and what not... and the fan leader boards. The character models are pretty weak... and whats with opening up bracelets... "you've opened up a spike bracelet for your RIGHT ARM" gee thanks!
The GOOD
1. The game play is perfect! Very tight like previous games.. colorful notes very pretty.
2. Scoring is perfect! I like the games competitive scoring. Catering to the ScoreHero crowd! Where as Rock Band is more about whatever the fuck.
3. The set list is in my opinion fantastic.
4. Leader boards don't take forever to update like in Rock Band
5. Music studio is fun and you make some neat stuff in it.
The BAD
1. The online store sucks
2. Main game has hardly any depth.. just play songs till you're finished..
3. New instruments are having major issues as of launch.
4. Character creation and models are blah
Overall it just seems like there should be more too the game.. I'm having a great time with it .. but I love rhythm games.. I think casual players will have more fun playing Rock Band 2 at this point. Not because of difficulty but because of all the depth they put into rock bands tour mode and the challenges.
I cannot comment on the new instruments because I'm playing with the old guitars and a Rock Band 2 drum kit which is very reliable.