I think Activision are envious of the success that Rockstar Games has achieved. I think True Crime will be good, but it will probably be an emulation of GTA 3 and Vice City with added features and improved graphics. Nothing will make the same impact as the GTA series did, as you're well aware of.
My opinions on the game:
Too unrealistic
Good Graphics
Interesting Features
I will check out the game however, I doubt you'll have as much freedom as you do in the GTA series.