First post. This sounds pretty awesome and I think if other developers went this way for racing games, flight sims and FPS's, the games would be much more in tune with what the gamers want.
Shift 2, with the handling mod, is the first racing game I've actually enjoyed offline. I run iRacing.com for my online fix, but sometimes I just wanna bang around with the AI without the pressure to perform. It's pretty fun actually.
I like the idea of the community having input over the development. For example there should be an option to turn off "look to apex" and remove the cockpit steering wheel from the options menu (for the wheel users). I think most "gamers" would agree those options should be present.
Hell I'm in for $1K if it looks promising.