Kotaku just spent a hour or so playing Motorstorm Online with some PR folks and other media.
"Not only is online play a total blast, but this latest build seems to have a few more graphics tweaks, so the game looks even better. Maybe I'm crazy but in past builds I don't remember things like an overcast sky or the sun setting as I was running a dusk race.
The good news is that the online build plays with all of the graphic bells and whistles and no apparent slow-downs in game. Of course I was only playing with seven others and the servers were absolutely empty except for us, so I suppose there could be issues when it launches, but I sorta doubt it."