I would say (W7) .... Documents/MyGames/FormulaOne2011/Savegame
Unless you use UAC (User Access Control), then in that case it MAY (I'm not sure, as I don't use it) be : C:/users/yourname/appdata/local/virtualstore/ - You would need 'show hidden files and folders' switched on to get to that one .....
EDIT: Whoops, I was typing and checking the folders when you were replying .......