Two words - Loading Times
F1 is compared, and unfortunately does not measure up to either category, not enough fiddling to make the simulation enjoyable, and not enough loose physics to make it worthwhile as an arcade style racer.
But the most annoying aspect for me was the loading times, every menu transition requires untold commitment to a loading screen with useless 'tips'.
After 2 successful racing seasons, a bevy of 1st placings, the only thing I missed out on was any sense of enjoyment from the racing. It is hard to put into words how disappointed I was, after spending NZ$110 on this game, for my first experience with it to be minutes of loading times, a clunky user interface, and bad voice over dialogue introducing me to menu options that don't really need an explanation.
The racing itself is presented nicely, good graphics, and a nice mix of colour, and pace effects. The cars themselves seem a little boxy though, and I am not impressed with the rather crude character models that flesh out the garage and paddock. There is a nice sense of speed down the straight, but without the vibration of a control pad, there is no real sense of Gs in the steering. Worse than that, the weather effects do not seem to have lived up the hype, with the rain still looking like generic FPS rain, and the much talked about 'physical effects' on the racing just meaning paying slightly more attention to braking.
I think, in the end, the best way to sum this up is in the way I felt when I loaded the game. I was expecting a solid, tunable, and engaging racer - but I ended up with long loading times and no discernible reason for it.