In the March 2011 issue of RC DRiver (pages 94-98) it looks like the GT2 radio comes with the Exceed Dynamite RTR. "but the 2.4GHz radio system and brushless motor are what makes this a really killer package."
I think of it as a RTR am/fm replacement. Read through the GT3B thread. It has lots of people that seem to like them and some are using it to race.
For the $20 price I don't know if I could have found a used am to put in my old RC10 to get running again. I am not expecting a race quality radio for 1/10 the price, just something that works.