First of all I have to mention that Bakuman's original manga was written by Tsugumi Ohba and illustrated by Takeshi Obata, who did the same for our beloved manga and later on a 37-episode-anime Death Note. But contrary to their previous hit, they did a completely different one from a same angle and the same style.
Second of all, it seems like I might make a lot of reference to Death Note, I hope you're okay with that.
Moritaka Mashiro, artistically talented, third year middle school student who looked up to his mangaka uncle, was discovered by his class mate Akito Takagi, number one top of the class student, while drawing a sketch portait of his crush Miho Azuki. Having enjoyed manga since childhood, Takagi purposes to Mashiro to become mangakas, him writing the story and Mashiro doing the illustrations. Mashiro refuses at first, but driven by a romantically intriguing idea they team up. They spend much time to get published in Shonen Jump weekly, later on get serialized.
The arts and illustrations are a lot similar to Death Note, of which I am not likely to protest against. Though that in the manga is different. Thinking of the plot of Bakuman, I'd thought the mangakas were telling their own story. Though it sounds unreal, it was really warm-hearted, inspiring, funny and very Japanese manga-esque.
Hardwork, teamwork, trust, expertise and the will to take risk for greater experience.
Fully recommended to anyone who enjoys Japanese popular culture.
P.S. The anime mentioned made me want a Japanese style CDMA, flip, cellular phone and do the cute looking stuff they did. LOL.