Sadly, I'm not too impressed.
The graphics are very pretty, most of the time, but the PS3 suffers the same problem which has plagued the PC version, namely, texture pop-up: A noticeable delay for a low-resolution texture to be swapped in for a high-resolution one.
I'm only about 45 minutes in but my experience mirrors that of Rock Paper Shotgun's: It's desperately trying to disguise it's own linearity.
Finally, and most crucially, I'm suffering majorly from motion sickness after more than a few minutes of play. This might be related to the fact that Rage's framerate is apparently double that of most games at 60 frames per second. Whatever the explanation, I can't play it if it makes me sick to do so!
I may trade it in for the similarly-themed Fallout: New Vegas, which I held off buying simply because I thought two post-apocalyptic FPS games was too many. I loved Fallout 3 (albeit on Xbox 360), logging perhaps 50+ hours of play with plenty more to do; but I don't think I could return to the beginning of that game.