The game is definitely enjoyable, though the out of race management aspect is barely existant. But the game suffers a number of bugs, and despite a selection of patches. The developers know several and just accept them, but they make some elements of the game unplayable... you won't be enjoying a stage along the sea, those are too jerky to play. There are features in the game that also don't seem to be relevent (and web forums seem to agree with my observation) - equipment can be changed, but it makes no obvious different to performance (I ran a sprinter bike up an Alpine mountain and still got the result I'd expect on a more suitable bike).
All that said, I have had a lot of fun with the game, and will continue to do so. There's a good online community which you really need to learn the game, the manual is useless and there is no tutorial.
All in all, if you enjoy road cycling and particularly the tactical element to it, you'll enjoy PCM2012. But if you like management games, buy football manager... even old ones make better manangement games.