I noticed it's called Canis Canem Edit over here. Although I think it is still called Bully in the states.
Apparently Currys and PC World have banned the game from their stores, despite the game being a rating 15. They say it reflects badly on their 'family-friendly' image. They still sell the GTA series and Manhunt - both have 18 ratings.
It's been given quite decent ratings.
IGN UK - 9.4/10
IGN US - 8.9/10
IGN AU - 9.1/10
Games Radar - 9/10
1UP.com - 10/10
GameSpot - 8.7/10
TrustedReviews - 8/10
X-Play - 5/5
Haven't heard of Games Radar, TrustedReviews and X-Play. But all seem to have given good reviews. Might aswell buy it before it probably gets banned or something.
Also, I would like to point out that I heard that your character is more of a bully toward other bullies rather than bullying nerds etc.