The graphics are decent, but nothing that will blow you away by any means. It would be a great game if the controls weren't so unforgiving. If you are a die-hard motorcycle racing fan, you may be okay with the controls. Personally I don't play many motorcycle racing games(since there really aren't any, except maybe Burnout Paradise) so for it to be so difficult is a shame.
Check the demo out for yourself and report back how you feel. As for me, definitely not buying MotoGP 09/10, but I may rent it if I get really bored. With Final Fantasy XIII on the horizon, along with Mass Effect 2 DLC content, we'll see where I can squeeze MotoGP 09/10 in.
Rent MotoGP 09/10 from GameFly!