I've played the demo on the PS3 quite a bit now, I'm a live fan (alllll the way back to snes days, hey, I even played lakers vs celtics from the EA on the PC when I was a kid!) and have never play the 2K series, I might be a bias but here goes. The last 5 years of live have really sucked, I have been wait so long for this series to pick up again. This version is nearly there, it is fun to play, I actually feel like coming back to it again and again so that has to be an improvement but I have noticed a few issues/bugs:
- I've been playing as Orlando exclusively on the default sliders (in superstar mode mostly), it is very easy to win as Orlando, I will pull out a win 90% of the time and if I score the first basket 99% of the time. I don't know what it is but it seems a lot easier to play with a small lead then to come from behind for some reason (I guess you could say that is almost like real life bball?

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- I think there is a bug or something in the Nelson/Fisher matchup or something, I will score about 5 or 6 threes a games, a bunch of long range 2s, i can pretty much score 90% or the teams points from Jameer, purely from doing the step back crossover (down on right stick) and breaking into a jumpshot before he does the second hop back. It is automatic, it is ridiculous. When that fails I just go to a pick and roll with the centre, and wait for the PG to go under the screen, easy three. No adjustments ever happen, i've never been trapped to give up the ball on a pick and roll even if I've hit four 3s straight. Not great. I didn't realise Jameer was Steve Kerr like accurate on 3s.
- There is a bit or skate/teleporting still happening, not all the time and not as bad as in the past, but it does happen with layups etc.
- Lakers centres are way to nimble, Gasol I can understand but not Bynum, Gasol has so many dunks it is ridiculous.
- I haven't figure out to play as a centre, or even post up low, somehow I initiated a backdown post up on the wing with Jameer & VC but that seemed like a fluke. Hopefully when the full game comes out there will be a backdown/post up button or instructions on low post!
- Big men who run the floor (Dwight/Gasol) don't run to the front of the rim, even if they are in front on the pack on the break. Also I've never thrown a fast break alley op (that someone has dunked) as all players don't run to the front of the rim. If you set the offence to "Up-Tempo" you should expect your players to run to the rim if they are open on breaks.
- No touch passing (as covered above) you can't swing the ball 80% of the time as after the first or second pass the defence will still on the third pass cause you are too slow!
- There seems to be a bug in the baseline out of bounds play (not under the rim near backboard) if the guy out of bounds is passing in from close to the 3pt line on the baseline, if you place the guy guarding out of bounds a few step over towards the guy who will catch near the corner, he will pass to the guy in the corner who will immediately pass it back to the guy out of bounds. Turnover. You would not know how many times I have done this. I am glad however I can't find anything else wrong with the out of bounds play. (except that every inbounds play in my frontcourt I can throw to Nelson for a catch and shoot he'll hit 95% of the time from 2 or 3s.)
There are a few more things but I'll have to write them down later!