For me the first thing that missed in LFS is feeling of the cars, I mean when drive car in LFS just cant feel the mass of the car although its look like car have its weight, just cant feel it for me its result in losing the control of the car, very often cant feel the moment i should stop push throttle or relase the stering wheel a litle. just lack this very haracteristic feelling when the car is about to lose grip or spin. Its become even more mysterious cuz cars are behave very natural so dont really know why i cant feel the weight.
The graphic maybe not the DIRT or GRID level but still aceptable, the cars are shiny, smooth and thx to the nice textures interiors look very good pity that only in a couple of first cars XF GTI & XR GT without newest shaders but still very realistic, The rest of the cars are made kinda lam3 inside with a few expection.
And thx to the realistic reflection and HiRes skins i really love the look of the cars, unfortunately environment usually looks green and boring South City is exception in any case tracks suffering from lack of climate and are totally boring.
Gran tursmo IV ot WRX Rally evolved From PS2 should be example how track surroundings should look like, in case or WRX also tracks are have the best bumps ever, who played would agree with me.

For me the affect of weight transfer is something that LFS does very well, but more so on the front wheel drive models such as XFG. In fact, to me the XFG is the only vehicle in LFS that is believable when it comes to driving feel. Am not saying that every other vehicle is totally borked, this is a work in progress so would expect at some point that the others will be improved upon also.
As for borrowing elements from iracing, more effort on the tracks as pointed out would work, in exchange for LFS's netcode which is excellent.

About ff stuff. IRacing has more "fancy" ff, but LFS has way more realistic ff. The problem is not ff, but the track, which don't have enough bumps.