Well, after my reminiscent post about Papyrus and how good the driving games they made were...I found out about iRacing.
It's a subscription service, so that may turn some people off...but I just joined up for a 3 month pass at 30 bucks. If anyone else considers joining up, remember that you probably also want to get a steering wheel and pedals as well.
This is not a console GAME. This is a simulation.
You race with other people, and there are many people online that do this. I haven't joined any races yet, but if it's anything like the people that played Nascar live with other people...they don't take it well when you wreck them. In other words, you drive like you would at a track. Accidents happen, but there might be repercussions for wrecking people on a constant basis.
I read the reviews, and this is exactly the type of simulation I love to play. Some of you might enjoy it too.
If anyone else does decide to try this out, let me know. Maybe we can get a C5 race going

You can join for a month to try it out as well, for something like 10 bucks. The major expense would be the steering wheel, which you will almost have to have.
Here's a review: