Got the free demo. Make sure you give a good amount of time for downloading - especially the "updates" which take far longer to downgrade than the actual program!
I'm no LFS expert - a few hours/week for the last month or so. I'm really no iRacing expert - about 45 minutes last night at Limerock and Laguna Seca mostly in the Solstice with a breif stint in the radical. Initial impressions:
Driving - iRacing seems to give a better feel for the car. You can really feel when the rear end starts to kick out and correct accordingly. It's much more progressive. Maybe a bit too progressive? That said, when you get to a certain point, it appears to be uncorrectable - again, limited experience so far. I give it credit for a better seat of the pants feel. Real brakes - no adjusting down brake pressure and stomping on the brakes.
Garage - I give them credit here. No unlimited setup options on the Solstice as it should be. How many people are actually changing gear ratios on their XFG equivelants IRL? Maybe 2 or 3? The Radical has more options but still limited compared to LFS.
Graphics - more detailed but fake feeling. Particularly the large dirt embankments. Gives me the feeling of old games where everything goes blank if you step outside of the proper enviornment. Like LFS better in this department.
Safety system - I'll have to try the races, but my experience in practice (which tells you about violations but doesn't actually charge you) seems overdone. This is a game - yes, a game. I don't care that Dale Jr. plays - seemingly a lot!. Real racing is real. In a game, your lacking many sensory inputs you might have in real life. Hence, a little bump here and there and a couple of wheels off the track happen more than they would in real life. Of course lack of consequences has something to do with this, but I have a feeling there system is pushing things a bit far. T1 can be annoying in LFS, but I find most racing in the XFG on random servers is decent enough.
Overall, I'm very interested but weary of paying so much once the demo is over. I like the idea of having a whole team devoted to constant improvement. I wonder how real that "idea" is. As an LFS newbie, I can care less about the new VW. Still, the long dealy in getting out just one car sort of shows that this isn't someone's top priority. Not dissing LFS, I think it's great.