Aside from the new easy / quick track creation option, this game looks pretty much the same as it's PS3 counterpart. But the new track creation is a really cool looking gimmick when you see how it works.
You draw on the field using the OLED touch screen infront to draw out the course, then you can start shaping mountains and tress using the back touchpanel. You can also share the courses you've made online and vice versa.
There's probably a bunch of other game improvements such as new weapons, tighter controls etc btu I haven't played the first game to really know the difference.