I tried the mod for myself today - not a bad mod you know:
took that pic while zooming around Bathhurst using the "expert" Williams.
Although the mod's physics are obviously not based around Formula1 old or new, the well-painted carskins are based on liveries from Formula1 yore, like Tyrell/WilliamsRothman etc. Said physics are easy to pick up on and difficult to master with all driving aids off.
The people who made this mod also run their own rFactor league using F-Sum3. check it out: http://negativesum.net/games/racingleague