Yeah, there's something wonky with this game; I was able to run it ONCE on a clean 2.0.1 install with no other 3rd party apps installed. It looked and ran AWESOME. However, that was the ONE time it ran.
Unfortunately, I cannot get a refund, as I downloaded it a second time just in case it was a corrupt download issue. So, now I wait with my fingers crossed, hoping they fix it soon. FWIW, though, I do remember at one point downloading a Gameloft game for the iPod Touch (I cannot remember which one) which did the EXACT same thing. (I think it MIGHT have been one of the older Asphalt games)
It DOES seem to store the MAJORITY of its data (~100MB) on the sdcard, though. I cannot see them ignoring the issue though, with all of the negative comments on the marketplace. People are going to get angry with Gameloft if they have a game they cannot run; so it would be in Gameloft's best interest to fix it. Wouldn't want to see them get sued by a bunch of us angry Droid owners.