Yes, I agree that iRacing is too expensive, but I can't say anything about the physics of the game as I've never tried the game.
But for me - LFS is the best racing sim out there. It's cheap, simple, fun and has a great community (gotta love AtomAnt's posts eh?).
Since I got my LFS licence, I haven't really played anyother racing sims only tried them (netKar PRO and some others), and I never really got into them. I seriously have to say that LFS is a great game, and I will continue to play it for a long time. No mather how long it takes for new updates to come.
I really wish Scawen to continue the great work, and only release the new physics when they're perfect.