I'm not so sure of the comment "...a load of features that exist in the PC version are missing from the console release...". The PC version of AC has never been feature rich, that has been the debate forever. AC has always been mostly a hot lapping game in the mind of many, never has (up to this point) been a good "racing" game, it just doesn't have the content or features to compete with a number of very good PC "racing sims". But, that doesn't mean it's bad software, it does some things very good and the developers are a talented and dedicated group (small). Some won't agree with my comments, hence the debate will continue...
I was very skeptical when I first heard of plans to release a console version as I didn't see it fitting a mold of a typical console racing game. But, I figured the same gamer type that likes AC on the PC would buy the console version, the type that is expecting a more well rounded and full featured game would not be interested.
I don't put all my eggs in one basket, I have less expectations for any one racing game. I'm OK with AC, as I am with every other sim I own. I actually don't race AC much as it lacks some of the features "I prefer". With that said, I did just buy the Red Pack DLC (own all but the Japanese and Tripl3 packs).
Something like Automobilista, just for an example, wouldn't do well on consoles in my opinion as the graphics aren't up to the level expected by many gamers, especially many console gamers. But, look past the graphics and you have a fantastic racing sim. Look past the lack of features (at this time) of AC and you have a very good driving simulator, one MUCH more worthy of the name (if you know what I mean "cough G* cough".
It all comes down to expectations and preferences...