I'd say its certainly worth 'trying'. I can play this game in two ways.
1) analog gamepad bit of fun in 'normal' physics mode, doing some missions, races, having a laugh, using the TVout.. So I sit on the sofa, beer next to me, vroom...
2) wheel/pedals mode with 'hardcore' physics, being very very scared!!
I'm not easy to please and playing the 'normal' physics with a wheel is a little odd, but in hardcore mode its 'good' enough. It has forced clutch mode, H shifter support.
It just does some odd things with controller filtering or something.. There is always a good lag on the gas pedal. (blip, wait, VROOM). It also somehow reduces the amount of 'steps' in your controllers response it seems. The odd thing, with the G meter in view, it shows fairly quick response to the gas pedal but the sound happens a bit later.
The 'opponents' also annoy the crap out of me in hardcore mode, I wish it was just me and the traffic..
BTW, the traffic should learn how to drive! Often they don't signal but still make a turn onto a new road. So here I am, waiting in my Zonda, doing the look left/right thing, see a car comming.. It is not indicating so I suppose I have to wait.. Then it suddenly takes the turn! I've also had AI cars indicating the wrong way, or being on the 'turn left' lane and actually taking the right turn.. :O I hope they listen to my horn and see my middle finger...
Edit: Oh, and there is 'motion blur' at high speed, which is a bit tacky but other than probably slowing fps down even more, isn't too distracting