The physics was the major thing that got me playing this game, so graphics doesn't really matter to me.
If they can just bump the physics up a notch, e.g tyres rubbing in, clean/dirty side of the track, or even wet conditions etc. That would be hugely amazing.
But i agree, a really good track should be the priority. South City is probably the only one i like cos it's kinda similar to monte carlos. They should study tracks like Suzuka, Nurburgring, silverstone etc to make new ones.
I really do appreciate their efforts and how much they've achieved, but as my favourite driving simulator, i hope it never dies out. And to do that, they can't stay still forever...