Ok, here's my 2 cents after 1 hour with the game, in the 488 round Nurb, standard PS4:
My T300 works fine, spent some time binding the controls I like, all seems to be working nicely. FFB seems decent out of the box but will adjust over time.
I had to set the in-game steering lock to 480 to get the in-car wheel to match 1:1 with my T300, the default 560 was out by a little bit.
The sound is awesome, as expected.
The graphics I think are fine, I can notice the 30fps and jaggies, but isn't a deal breaker to me. Less jaggies than pCARS2 so can't complain much, although the white line running round the circuit can get a bit nasty looking on occasion. Haven't noticed major stuttering as I'm driving.
The dash display looks awful on the 2 views with the wheel showing. Flickering and very low res. Looks shocking. There's a nasty flickering to the numbers and the boxes that surround them on the 488 dash. Disappointed as I like to see my wheel, and have to run the closest dash cam to eliminate it. Never seen that before.
Other than that seems fine to drive, the 488 handles better than the one in AC, going to race the AI now to see what they're like.
Overall I'm happy enough, after being very apprehensive reading some of the comments.