Agreed. Superbly made game. Install the official patch from EA's site. Install the roster updates etc from the Live 05 forums around (can't remember the names of them - not visited them for a while - and yes I am FishBowlMan there too

) and enjoy.
If you like the real game, and I've seen your name on some basketball related posts so I guess you do, you will enjoy this computer version.
There are a huge number of customisable features - speed, shot difficulties, qty of penalties etc etc so you can set the game up exactly as you want it.
The all star weekend is nicely done with the rookie / sophomore game, 3pt shootout, dunk competition (which is fun but not really my cup of tea) and All star game.
The dynasty mode is good - real cash salaries this year. The trade engine seems pretty good too.
There are a large number of unlockable retro jerseys, socks, shoes and that kind of stuff, which you can "buy" using points gained from completing tasks in the games. e.g. score 10 points in a quarter with one player and earn 5 "shopping points" - that kind of thing. These can also be spent on various team upgrades / coaches in a dynasty season.
The commentary is quite good this year as well - in previous years (well in Live '97 as its the only other one I've got), I stick with the stadium announcer, but the tv style commentary is not too wearing.
That's about the size of it. As you can see - I recommend it. (And no, I'm not on the take from EA

)
Anything else you may wish to know, ask away and I'll do my best to answer!