I got it and played it. You need 8 gigs of HD on your hard drive if you have the 360 version like I do. Internet connection is not required.
I only got to play it for a little over an hour but I like what I see so far. Graphics look pretty much the same as IV, but to be honest, Rockstar has always concentrated more on world size and gameplay over graphics.
I love how you don't have to go all the way back to the beginning of a mission if you fail. That is one big reason why I played Saint's Row over GTA. I totally suck at reflexive gameplay and the "retry" option helps a ton for someone like me.
My gosh though, from looking at the paper map that comes with the game this game looks huge. I'm guessing bigger than San Andreas was.
Life is not a journey to the grave with the intention of arriving safely in a well preserved body, but rather to skid in broadside, totally worn out & proclaiming "WOW, what a ride!"
Continuing the never ending battle to keep Lobelia Sackville-Baggins in check