I'm not a huge graphics hound.. but to be honest I was shocked that from the 2008 version (the last one I played) and now the background models, graphics, etc haven't improved much. talking detail on stadiums (particularly TCF Bank) like texture quality, quality of stuff outside the stadium, and even fan models and randomization. As a former bando I'm shocked that not only are the U of M band unis wrong, they all hold saxes, and all move 100% in unison (and even cheered for UW when they scored a TD). The giant scoreboard looks like it has maybe 5 pixels on it (I remember in NCAA08 the Texas screen looked pretty good, actually), and player models for in-game plays (not cutscenes after a play or for coin flips) looks pretty un-detailed as well (dredlocks look awful, for example). After playing some Arkham Asylum and Arkham City, I was shocked at how much less detail there is for each venue than what Batman can see in the distance from those games. Just my opinion.
Sounds are still a little bland - I'm nota fan of the versions of the songs they have in-game (the Rouser is almost not audible because of the way they play it). They also don't do a good job of getting any other music in to the game, something that bothers me for a company that expects its fans to buy an incremental version each year - can't you go to 10, 15 stadiums a year and find out what exactly they play in each situation, what is piped in vs. band, what the band does for pregame, etc? Example, when Wisconsin scores a TD, they don't play On Wisconsin before the PAT, they play "Hot Time" with the students alternating up and down body motions. Then after the PAT they play the football version of On Wisc. Where is Minn March or any of our other school songs? etc etc. The crowd also doesn't get in to certain plays like I would imagine they would. For a game on a PS3 with plenty of horsepower (and a Blu-Ray disc to hold all this information) I'm disappointed in the way they distinguish the collegiate atmosphere. Especially for $60 + tax.
The game mechanics are pretty good - passing is now a challenge, play action works like it should (somewhat), and the slowdown legend mode is interesting. I haven't tried the pick any Heisman winner thing yet but it seems a little hokey and limited since not all winners are available. The commentary is pretty good and the way they weave in ESPN's college gameday feel to everything does a pretty good job.
I'd say if you didn't buy '12, this is a good purchase. And yes, getting rosters now is extremely easy - there's a Roster Share/Download area and there are several people who have put in a lot of time and shared it all for free, including names, tweaked stats, updated physical characteristics (for players and coaches), and even a lot of the incoming HS names. Look it up.
I know some people on here were talking about putting together all the music/sounds that TCF Bank Stadium has... in the interest of saving myself some time, is anyone who did it (if any) willing to share?