"VGP3 is an amazing sim even in its current stage of development.
The car and especially the tyre physics are one of the best i’ve seen in an open wheel simulation. On par or little bit more advanced than NetKar Pro, much more advanced than any ISI Gmotor based sim, IMO.
The FFB reminds me of NetKar Pro or LFS, but more informative. You can even feel the vibrations from flatspotted tyres! For a better FFB feeling in the low speed corners, you can reduce the FF Linearity slider, BTW.
The AI is very good and puts up a good fight. It reminds me of GP4 excellent AI, and its better than GTREvo, IMO.
Graphics are good (not best, but good). If you force antialiasing and anisotropic filtering from the graphic card control panel, VGP3 looks on par with GTREvo, IMO.
Currently in development are changeable weather effects and full car damage AFAIK.
The best thing its open for modding, as rFactor. They even released a track editing tool TrackDesigner3.
AutoSimSport has very good review of VGP3 in vol.4 iss.4."