Regardless of cutting and setup bugs, the game is still faster than last years, and you can imagine why. They've put in KERS and DRS and probably didn't slow the cars down enough to compensate. The times were pretty realistic last year but the cars have only gotten faster in 2011.
As to "corner cutting" (in Melb it's more about running wide), if it's a RD league rule, that's fine and good. But you know if Vettel was allowed to cut corners in his pole lap he would have done, if it were faster, so would every other driver in the field. Racing is about making use of every inch of track given to you; if the game gives us more track, everyone will use it.