I've played it for 6 hours or so on the PS3, very very good game.
no complaint with the physics even, just some car's have very odd default setup like the caterham, when some like the supra has really sweet balance. The FF is actually quite good.
can't get use to the helmet cam though, can't tell how much the car is yawing with that cam, so I just use the cockpit cam, which still have some nice head movement.
The AI is real good as well.