I cant see why you guys are complaining so much, it isn't S3, it isn't iRacing 2.0. Its supposed to be a game for F1 fans that just want the thrill to be side by side with another car. The physics is just an addon for me.

My attitude for F1 2011 was negative... untill I tried it, it was fun and still is. Sure there are some things not 100% right, mainly the steering lagg, but theres an option that will fix that and you wont have any lagg at all, you just need to settle down and not rush things by instantly nitpicking on everything you see.

Now about F1 2012, the physics is extemely different, FF feels great to be an arcade game. Only thing is that I feel its hard to navigate compared to F1 2011, but I can learn this.

My advice is, download the game and try it without looking at the comments here on this forum.

My settings:
G27, 300 Deg.
Go to wheel settings, change to "custom", go down to "override device plugin" or something at the bottom, change it to steeringwheel, now configure all your axis and buttons and try again. Remember to turn FF on.