Well, I have not actually played THIS game, but I have played lots of other Burnout titles. I must say that the Burnout games are fine for older tweens that understand this is how you are NOT supposed to drive, there are no humans in any of the cars, and if you do drive like this in the real world, your car will crash like it does on the game and you will die. (LOL)
But seriously, the Burnout series in general rocks. I watched trailers and in game videos and this game looks AWESOME. I also recommend Burnout Revenge, which is for the PS2 and 360. Just make sure your kids can tell the difference between real and fake. Some of the songs are edgy and stuff, so make sure you disable the ones you don't want your kids listening to.
But yeah. totally awesome. Great mindless game for tweens and teenagers looking for an explosive boredom buster.