Really hard to tell.. Physics feel really great, reminds me more Race than rF1, just without the exaggerated FFB of course. But where rF1 FFB is one big rubbery, sluggish porridge, this feels sharp. Just have terrible problems with braking, they tend to lock up or i get snap oversteer without any feedback from the vehicle... If you're vehicle not perfectly straight, you miss the corner or have to start braking wayyy sooner what the AI is capable off.
And i mean perfectly level, just one bumb at wrong place can make you spin. It could be because the test car is GT Corvette (blaah..) that the fronts just overheats, no way of knowing that atm (haven't checked telemetry screen setup yet..).. I can barely touch the brake pedal at corners. The rear of that vehicle is not the most forgiving, you have to crank tire volume to 200% to even have some warning when your losing grip.. I don't like that Corvette is the demo vehicle, don't know how well that is tested. It certainly is not the easiest on GT series and this model hasn't got the understeer in/oversteer out that i'm used to..
Also i'm still using auto-clutch, that feels exactly like it is in rF1.. Race at least enables auto clutch much later in the rev range, it's more anti-stall than auto clutch.... In rF2 it feels like i have no engine brakes at all. Combined with snap oversteer/front lock ups, it's handful. Graphics look really weird (= rubbish...) at settings that can do 40FPS, i have the recommended requirement graphics card (well, it says GTX270 and i got GTX260..), i think there is some hidden stuff somewhere to make it smoother.
FFB is not very indicative of tires loosing grip or braking, that one you have to get used to, allthough it is a bit better with the other cars than the Corvette or Nissans.
The Corvette last time I drove it was super hard to the front tires whilst you coudn't get the rear tires to wear no matter what you did, so you get a developing understeer with every lap.
Atleast I haven't figured out how to get the balance making more sense, but this also is better on the other cars.
Also like david said, try lowering pedals sensibilities (100% is linear).
On the open-wheelers I use something like 60% on the brake and 80% on the throttle. If you use pedals without much resistance and/or short throws, you might try lower sensibility values too, especially on the brakes.
Also forget AI when it comes to comparisons with grip or traction. They don't use the same physics that you use when driving.
Next thing that isn't very accurate or the official minimum/recmmended settings. They aren't really recommended for a smooth experience at all in my opinion. You certainly need a bit of a faster cpu (and also gpu) imo. When I switched from my Core2Duo @ 3,8ghz to the i5 2570k @ 4,2ghz I got a jump of up to 50% in fps with the same GPU (HD 6870).
Btw biggest fps eaters are mirrors, reflections and HDR (the different detail-settings, not so much).
Also you should really try to get to 60 fps at every moment, but better yet 90+ fps to get the game as smooth as possible and to reduce any kind of input lag as far as you can. For that you can set a maximum fps in your player.plr to have kind of a vsync on a higher level (I have it on 120 fps) without the consequence of input-lap.
Everything regarding physics and its translation to ffb will make much more sense when having input lag as low as possible.
Also for a fully customiseable HUD that has all the infos you could possibly need, go
HERE