Well... mr impatient... as long as you have a decent HD tv and HDMI cable it LOOKS absolutely amazing. The sun glare is an amazing effect (especially at Monaco). The sound, if you have surround sound is very very good, not the extent of the graphics, but very good none the less.
The most impressive things are the little things you hardly notice that make up its realism. The pit stops are great fun, as your fully interactive with them, so if you fcuk up, it costs you. The most impressive thing about it is the very responsive controls and drivability.
If you muck around with the cars settings it really does have a massive effect on how the car handles. After a awhile you discover you have a particular driving style and how you want the car to react in corners. If you love the technical side of F1, it’s a geeks paradise. Conversely if you just like honing around, its really good fun too with damage on. Beware, the Mclarens are prone to losing the front wing VERY easily. The Renault... is like god on in car form. Awesome car.
oh and LOL you really do have to watch out for taku... dangerous kent