It's fun, but the controls are funky. I'm using Logitech's 360-style controller.
I agree that it feels like it's all or nothing with the steering. When I'm in the groove, what I believe I'm doing is setting the car up for the corner with the brakes then hammering the steering and gas simultaneously, so it negates the steering quirkiness.
One thing I don't like is that even if you barely touch another driver, you're going to get spun or put into a wall.
I've also found that is I don't get the lead within the first couple of curves, I won't win the race. If I do get the lead, I can keep it, so I find myself restarting a lot, which definitely hurts game play. I've yet to pass anyone on the last lap or last turn of the race. This may be because I stink, or I simply don't drive well from behind. I wsh that I felt like I had a chance to win in the end, so I didn't feel compelled to restart the races so much.