The PlayStation 2 is a pretty system. What I mean by that is that the graphics can look good. The PS2 is capable of extremely good simulations of real things (football games, Gran Turismo, etc.). It's also capable of making extremely realistic depictions of completely fictitious things. For instance, futuristic high-speed, high-stakes motorcycle combat/racing at speeds above 750 mph. Now, the 750 mph number comes from the back of the box; I think it's equally ludicrous to imagine racing a motorcycle at 500 mph, much less attempting to have the concentration to attempt to shoot at another cyclist while trying to maintain control of your ride. However, there it is in front of you - as big as life, and twice as colorful! Whether you're racing across a vast countryside, overtaking the guy ahead of you on your way up and over a beautiful waterfall, or slamming hard into a tight turn above a megaopolis which would resemble something out of Blade Runner if it weren't quite so tall...
Extreme G Racing is a wonderful piece of eye-candy, with great special effects and nicely designed scenery - that you'll be too busy flying past to notice.
As for the sound, Extreme G Racing has it in spades, with appropriate souind effects and realistic proximity sound (yes, you can hear when a motorscyle is overtaking you) - and 5 music tracks by 'Ministry of Sound'... ...even the menu music has a good beat (and I can dance to it...)