I prefer 2k11, I love editing rosters and making the game feel as authentic as possible but on this game you can not add and release players from the classic teams. They have cut down on free agents, the game hasn't got rookies until the lockout ends so I'm going back to 2k11.
Graphics are the same, I find the create a player system hard as I tried to make several players but none of them look any good. One more note is the servers haven't worked since I bought the game so can't download a roster with the rookies in it.
I downloaded some awesome retro rosters on 11, one guy made a roster from every year from 1989 onwards i think so I'm gonna stick to those. Currently playing as 95 Lakers, even has a real faced Van Exel which is awesome as he is my favorite player and not included in 2k12.