It's not a fair representation of the original coin-op. I built a MAME cab for TRON a few years back complete with spinner, importing the parts cost me an arm and a leg.
The sound in this XBLA version is terrible. And the controls, I don't know what happened there, control scheme 'C' is the best of a bad bunch. I love the original game more than I should, but I just can't bring myself to play this version, it makes me visibly wince. The emulation must be at fault here (it even has the little bugged graphic in the top right corner just as it should).
Still, it's better than nothing. A local 2 player light cycle mode would have been nice consindering how easy it is to throw together a game of 'Nibbler'.
Certainly TRON XBLA appears to be worst implemented title I've played so far.