It's more than playable, not as enjoyable as controller would be, but it gets the job done as a last resort. This is how I played the game when I set it up to play with keyboard for fun a couple of times/when I wanted to play SSX on a flight and obviously couldn't use a controller. Even the cheapest piece of junk you can get that's USB-compatible will probably be better than keyboard. Like Joey said, a controller is really to be recommended.
