First of all, in response to Michael Basler, the DVD edition includes California, Nevada, Utah, and Arizona as 'fully-developed' scenery areas i.e. with buildings, towns and airports etc. That is quite a large chunk of the continental US, and probably one of the most scenic regions.
Beyond this area, the rest of the world is to be seen in very low resolution, but it is there, even the Chatham Is which do not appear on the location selection map. You have to click near Christchurch, then drag the plane off the edge of the world. When you click Start, you should have them in sight. You could even tune the CI beacon, because beacons, VORs and intersections seem to be visible globally on the Moving Map, but airports only show in developed scenery areas.
The Moving Map is interesting. It is stretchable, movable and zoomable, and it shows accurate coastlines even where the scenery in the sim is very lo-res and blocky. It also shows clouds in various places, which leads me to suspect that the original GIS images are being used for the map. In the 'undeveloped' areas, distant skylines are good.
I checked several areas I know personally.
Perth (Scotland): Landclass blocky, mesh good, Map rivers accurate (never saw that before) and distant skylines recognisable. I buzzed the hill where Dad's house was, and got the same view as we had from the upstairs windows.
Illawarra (south Coast NSW): As above, Map coastlines spot on, including PK harbour.
NZ Wairau valley, and Auckland: Map coastlines and rivers great, distant skylines great.
What I want from any flight sim is accurate coastlines enclosing excellent mesh with correct landclass, correct roads with properly aligned buildings, and great trees. AFS2 goes a very long way towards that standard, and with more user-created items appearing it will only get better. Quite like the early days of the UKVFR Project in pre-FSX times, really.