just picked one up this weekend.  I'd say it definitely is fun.  It's nice to be able to play a video game but feel like I'm actually doing something (I was even a little sore the next day!).  And everyone seems to complain about the graphics, but I found no issue with it at all.  I think they look ok (and this is on a 57  inch screen...so maybe it's because all non-HD graphics look bad on that tv :-).  
As for it's "simulation" ability, I'd say that's way off, unless I'm a natural.   I'm not a golfer, have played it only once in real life when I was a kid, yet in just my 2nd game, with the setting on Pro, I hit 3 over par in 9 holes.  That doesn't sound good, but I mean I'd expect much worse given I hadn't swung a real club in 20 years.   I mean your talking about a guy who's swinging the club more like a baseball bat than a golf club  

    I managed to hit 2 birdies in those 9 holes as well, and if my putting was better I would have finished under par easily.  (I can never get the power right on putts).
I rarely hit hooks or slices.  About 90% of my shots are straight on pro mode.  Now I rarely hit them all "clean" (i.e. I usually get 110% power, 90% clean), but that just affects distance and not direction...so generally my shots are shorter but go where I'm aiming.  Every blue moon I hit a "good drive" shot where I get 100%, so I'd say that part is accurate, it's just the hooks/slices that don't seem as sensitive. 
So while it's fun, I'd say it's not much of a simulation.  Yes, I can tilt my hands and see the club face move, but I generally don't mishit with hooks or slices. (occasionally, but not the frequency I'd expect being a novice).   I need to go out and actually try the real golf game to see if I just have natural ability  

As for the game, the only part I hate is clicking the button with my left foot.  I get bored with the animations, etc. so fast forward through them and since I don't stand on the button I have to hit then move my foot to click the button, hit again, etc.