I have yet to play PGR since for some reason seems to be like Grand Turismo and really does not bring anything to the table but racing against other similar cars. I have Most Wanted and it's a lot of fun! The cop chases totally give you a adrenaline high while having many options to custom make your car or take cars away from oponents. Also the sound effects and the crashing effects are really great and very well thought out. If you are running into a light pole at 10 miles an hour you will not wreck the pole but if you hit at over 60 you will and create debree to whoever is chasing you.
If you don't like racing and would like to get the shit scare out of your pants then get condemned. This game has really good graphics, high attention to details, and scares the living crap out of you by just looking at your shadow on every corner. Blood and gore are all over this game and it's great if you have a surround sound and can play it at night, shut the lights, close the windows, and keep a flashlight handy cause it will get ugly.