Before you even consider blowing £300 on a console and driving wheel for nothing but this one game, I think you'd better have a read of this.
http://classygamer.blogspot.com/2010/02/forza-motorsport-3-what-went-wrong.html
This game is far from "The Definitive Driving Simulator" it claims to be.
I agree that it isn't there, but it isn't that far off. It seems to be the best thing on consoles at the moment, by far. Supercar Challange and Race Pro are the only other comparable titles at the moment.
That review makes a few critical mistakes. The AWD superiority is only tied to the PI System which is flawed to an extent.
The PI system seems to come from the vehicle's performance on certain test tracks that Turn 10 Studios used to measure this with. Perhaps measuring this by using an AI driver and as a result applies one style of driving to all sorts drivetrains. Anyone can see this will lead to problems.
The physics aren't perfect but on the console side it's the closest thing to a PC sim right now. His complaints doesn't address the real issues with the game, and his complaints about RWD vehicles are straight out wrong.
The game is flawed but so are some of my favourite racers from the past, including Gran Turismo 3 and 4. Even iRacing, a game with the best physics and most realistic tire model (well, Forza Motorsport's is up there!) doesn't have the car selection of games like Forza Motorsport and Gran Turismo. There isn't a game that has it all and never will be.
I'm sure that I'm not the only one disappointed by some of Turn 10 Studio's decisions, as we all know they have a great foundation for an excellent sim but hindered it with some poor decisions, namely the steering assist that cannot be turned off (it can in Gran Turismo) as well as the online play that has taken a step back from the previous Forza Motorports title. The physics need some tweaking in a few critical areas. Yes, they are beyond Gran Turismo but could have been up there with iRacing or rFactor.
Still, despite the issues it's a great sim. Lots of closed minded gamers are doing themselves a disservice by ignoring this game. Many of them think of Gran Turismo as the undisputed "King" of racers. I used to be one of them until I got into PC sims and then I saw Gran Turismo for what it was. So I find it hypocritical to see the sort of comments I see here downing Forza Motorsports when the Gran Turismo series has its flaws too.