I haven't got this excited in a very long time about LFS!
The release plan makes sense, the mod system looks promising so I had to upgrade my license from S2 to S3 as a sign of appreciation and hope.
Then, the graphic upgrade (lighting system and textures) is veeeeery important but I'd suggest to do the tire physics update first.
Actually, it would be fantastic to have a whole LFS physics update: cars still fly at anything, brakes temperature is missing and maybe other things that would break hotlaps and car setups (LFS 0.8).
After those "core" changes, then I'd suggest to release anything graphics related. (LFS 0.9)
Finally the track editor that would be amazing but I am waiting more about the weather system that would practically double or triple the tracks already available. (LFS 1.0).
Scawen I blame you, I am dreaming now!