I'm running in demo mode with FBM on BL1 and the fastest I've done is ~1m17s. I'm using a keyboard with auto gears. Just trying to get a feel for what is possible and whether the times I see in thr 1m15s or less are with a wheel.
You can see the latest hotlap charts. The "ST" field shows what controller was used. The fastest keyboard "ks" time is 1:12.59, and you can watch that replay by clicking it, and opening it with LFS.exe.
Unfortunately, I could only do a 1:15:59, which is exactly 3 seconds slower than the best hotlap with keyboard.
It's all about the 1st chicane - which I've never been able to master.
If you want to see what times are possible with keyboard with a lot of combo's, I've loaded 300+ hotlaps on LFSWorld - Look under S2 Hotlaps / Ranks / Nutter. Then click on the underlined letter c, which sits under the RANK INFO column.
These aren't the best times with keyboard - just what I could do. But it gives you an idea.
If you want to get better with keyboard, I'd suggest you practise on the Oval (both ways), as you need to be able to steer smoothly round the bends to keep speed up (usually need to multi tap left or right keys to try keep things smoother).
You may also have to change your keyboard settings in the Controls section. Personally, I use a Steer rate of 0.42, and a Return rate of 0.18, but you do have to play around with the settings till you get something you can control with.
there is one important "issue" with keyboard - you need to spend some (huge) time amount to get used with its steer/return rate behaviour, that needs to be set a bit different for each car/track/set combination - against free steer left/right with analogue input (mouse/wheel) which is only depend on your movings.
take a look on his (that fastest keyboarder on bl1 fbm) online lapcount (and multiple it by 2 if you know that demo racers are counted on lfs stats since patch Z) - to beat him, you will need 5 times less practice with mouse or 10 times less practice with precise wheel.
My record with wheel is 1:15:46,I'd say,that the first corner,the chicane and the last turn before pits are the most important.I shifted and braked later on these corners and got a much faster time. Record today - 1:15:22 .