Well if that is true (pc aparently under spec) then thats not bad at all, ok there's still the issue of how doe it react with other cars, draw rate etc etc. But I'm impressed never the less.
Yes the netcode is near flawless. It makes LFS look very shakey indeed. I found collisions to be poor, lacking any sense of contact or violence, but apart from that it's hard to fault. If the iRacing software came in a package more suited to the way I want to play these games, then I'd be happy, but it's certainly not something I cannot live without.
Not currently apparently, though i believe paypal will be an option soon.
I'd bet if you have a debit card from your bank,issued by Visa/Mastercard it would work. I always used my debit card in the past for things that require a credit card online. Cant guarantee it though