Physics certaintly aren't dumbed down, feels exactly like NetKar and it certaintly isnt "easy" or doesn't give any impression that its trying to be easy, it feels spot on to be honest, exactly how I imagined the car would drive from watching videos of it and from what i've read about the real car. You really can't judge the physics by a video. I just came from the iRacing forums where all the guys who own it are raving about it and the guys who don't are sniffing their noses up at it after watching the onboard replay.
Not sure who said the physics are dumbed down, but I heard that about FVA when it first came out, before it was praised so highly, most of the people saying it was dumbed down though we're mostly miffed that it didnt feel like the F1 cars in their Rfactor mods. Infact I was one of those people, originally I didn't like it because I had been playing the Rfactor mods, but really the Rfactor mods are micky mouse compared, even the iRacing F1 car is to be honest.
Infact, looking back I even mentioned in this thread that I didnt rate it above an Rfactor mod, back then. But FVA has had a few updates since then, back then I was flat out running Rfactor and only driving FSone2009 mostly so I was way too tuned in to that game to accept something new, I hadn't even joined up to iRacing or purchased NetKar at that point.
If you've played NetKar well then it will feel very familiar, it runs on the same engine as Netkar. In my opinion NetKar and FVA are still by far and away the most realistic sims, even if I'm completely disagreeing with what I said over a year ago in this very thread, lol! I've got more experience now, not to mention a fresh look, as back then I was too poluted by constant racing on Rfactor learning bad driving habbits.
All you need to do is try it, and i'm about 100% sure you will agree it is awesome ^^, atleast as a driving experience.