My initial impression was pretty negative. It looked like crap, side monitors were distorted, steering sucked. It didn't help that it has a definite rFactor feel. I hate the rFactor2 UI (never tried rFactor). If I hadn't bought the game and was just trying out the 60min demo, I probably would have given up.
Part of the issue was my fault. I didn't notice the multiview tick box on the config screen. After rerunning the config and enabling multiview it looked better but still not good. I couldn't get the FOV right in the options menu and ended up having to edit the cam files to correct it. The default cam file didn't seem to do anything and it was a bit of a pain to edit all the car files. Finally, I got CCC to handle the antialiasing and stuff. That finally got things looking good. Not as good as iRacing but much better than before. The steering fix was simply to change my wheel to 540 degrees.
After getting through all that, the sim is pretty darn good and well worth $25US. The graphics aren't the best but fps performance is really good ~70 with a 20 car grid at Interlagos. Though it's hard to see exactly since it's partly covered by the bevel (why is it so hard to get proper triple screen support?). I'm no expert on physics but I think it's in the same ballpark as AC, rFactor2, NKpro and iRacing NTMv5 at first glance. AI at first glance seems pretty good. I'm pretty slow so it doesn't take much to challenge me. I may need to turn up the aggression because I had a bit of a parade following me one race. Even so, in one practice I moved to divebomb one car and he actually gave me some space and then retook the position the next corner. While the UI definitely has rFactor roots, it's not nearly as bad as rFactor2.