As far as racers go there are 3 things that are a go/no-go for me. Here is my opinion of F1
CARS/DRIVING If you're a big customizing freak forget it, you get a cart and are told to go tune it and race it, whether its better or worse than your oponents cars (who knows), this game focuses more on driving and pit strategies than building a beast that will leave the closest openent a lap behind. Car graphics are average and rather cartoonish on 3rd person view. Looks like you're driving the old Pole Position game in the arcades as a kid, best view is the angle slightly above the drivers head. Anything else is cartoonish or you can barely see the road.
TRACKS The track scenery is nice, not as boring as Forza 2, but not as distracting (nice looking that is) as PGR-2, they are pretty much alive with the crowd and 25 cars on the track at one time.
ACTUAL RACING (physics, damage. etc.) As said before, this game focuses more on driving and pit strategies. Scewing this up will have go from 1st place through most of the race (20+ lapses) to barely finishing in the top 4. Did i meantion races are long? 20+ laps, plus qualifying races (3) gets pretty boring after a while driving in infinite circles. Unless you are skilled with cart games, expect to lose control of your car alot unless you have computer assistance which then makes the game pretty boring cause all you're doing steering and keeping your finger smashed on the accelerator. The A.I will make mistakes and opportunities exist to overtake them on turns or hear the funny commentary of one of them getting caught in an "incident" (i.e, their car is trashed), but if you are way behind in the closing lapses expect to lose the race.
OVERALL If you are a die hard racer, have the patience for driving hours on one track alone, and know jack shhhht about tuning carts then go for it. If you are a casual racer who likes to paint, tune, and customize you may want to skip this and try the NFS series or Forza 2.
This game has it all. Graphics, great game play, very realistic, plenty of ways to view ur car, and really cool pit-in scenarios. The only thing that the game needs is some kind of background music to keep u interested. The tracks are long so without the music u kind of lose yourself in the game.
The online portion i wasn't a fan of. It is cool to race other people but if u choose to do things on a realistic level you can hit the wall and then just respawn. If you are racing and you respawn, everyone just rams eachother. not cool.
This game is for the hardcore racing fan. This game is unforgiving and evil when it comes down to realistic racing. It looks good and the feel is spot on. It doesn't surpass GTHD or Motorstorm in visuals, but it is still pretty enough for the PS3. If you are expecting Need for Speed when you pick this up, you are in for a rude awakening because this game is for pro racers.