I've been running on Laguna Seca and just started Okayama International Circuit and I must say, I'm quite impressed with the options, the graphics, everything. When I play Assetto Corsa and this, I get that feeling that I'm in a real car, on a real track. I mostly mean that in terms of physics but suppose since all of these tracks are laser scanned, I also mean visually.
This doesn't have AC graphics but I'd put it between GT6 and AC, I'm actually surprised. I like that you can practice in custom weather or real weather, I'm not sure all of what it models but like I said, the visuals are nice. I turned the graphics to max and there are settings for gpu memory limit and RAM limit, I maxed both of those since I have 4GB and 8GB respectively. I'm running at 84 FPS.
You're not penalized in any way when you test, only in Qualifying , racing and time trial I believe. I will say though that even though I have raced on Laguna Seca for at least 500 laps in my gaming life (probably more), I'm a little nervous about driving simply because of the penalty system. That sounds like a bad thing but actually, its fun and rewarding.
Now, I obviously haven't driven with other people yet and I want to get used to my wheel and the handling of the cars before I punish anyone with my driving but I'd say that if you have the PC and the money for a membership, you should try it.
Some people here know that I'm into flight sims, I have been doing that for 20+ years and I can feel that with this, Assetto Corsa and soon to be released Project Cars, my passion for sim racing is growing at an accelerated rate that is actually pushing the flying to the side.
Good times!