Uerm, there are many times that I see someone in front of me braking too early
or too late or normally.
It doesn't matter which one. I've been many times in a situation where I wished there were brake lights on the formula, and many times in a situation with other cars with brake lights that I have made various last-seconds decisions only by looking the brake lights of the front car.
Decisions like blocking the wheels, breaking earlier than personal braking point or later, or even go out of the line past the man in front (even out of track) to avoid a massive accident, or events in a straight line where the front driver is loosing it and presses all the pedals together.
Again, it doesn't really matter. What matters is that since it's a multiplayer game with all kinds of gamers (newbies, pros, wreckers, etc etc ...) an extra visual indicator despite the lag can always come in handy.
I vote for realism, myself. But since it's called F08 and not F1 or F3000 or whatever else, we can add on it whatever we want
It simulates the driving feel and behaviour of a generic formula car and since it doesn't race in F1GP, it can follow different rules than FIA :P