The good: "Road" is different for a Bollywood film. It's a thriller and road film and not yet another sappy love story. The 3 leads are all good performers and breathe life into a script that has its share of holes and Bollywood nonsense. The camera work is ok (not counting that awful hair in one shot) and the 5.1 sound is quite effective as well.
The bad: The subject may be new for Bollywood, it has been done do death in Hollywood since Spielberg launched this sub-genre with Duel (1971/I) (TV) (see for example also Breakdown (1997)/Joy Ride (2001)/Friday Night Date, A (2000)/Hitcher, The (1986), etc.). So there goes the originality. The songs are there because a Bollywood film has songs, period. They don't do much for the story. They could be cut without any loss. They slow down the pace. The police shenanigans are tiresome, the ending is very Bollywood. Finally the cut and paste technique in the background score with straight lifts from existing Hollywood soundtracks is annoying. (For example check the scene where Bajpai forces Oberoi out of the car the second time and shoots at him. The music at that moment is a direct copy from "Rock, The (1996)".) It does not matter that the intended audience is not likely to notice this. It's unethical and unprofessional. If Bollywood has any aspirations to go global that practice has to stop at once.