Man, the last few pages have been... interesting.
@Scaff , you're giving waaay too much time and credit to irrational rambling. I can't bear to read those posts, much less dissect them.
I'll speak to my own experience with my T300rs 599.
I forget off the top of my head, but I typically keep FFB at 4, and bump it up to 5 or 6 for the open wheeled cars that have had their steering weight neutered post 1.49. I don't honestly remember where my sensitivity has been set, but it's been where it's at for a long time now.
Through my wheel there is a progressive increase in weight as the tire reaches it's grip limit, then when traction is exceeded the wheel begins to go light. Weight will return if I get back into traction, but will lighten further if turned more into understeer.
If I continue to push there will be vibrations, which to me feels like a representation of tire chatter as the carcass is pushed more and more against its trajectory. Something that happens in reality. It rarely happens to me because pushing into an already understeering tire is right up there with nails on a chalkboard on the scale of uncomfortable things, but it can happen!
GT7 does not perfectly emulate steering behavior, but no sim I've ever played does. ACC and iRacing are both definitely more communicative experiences, but all of them have shortcomings when compared to reality, especially when it comes to the level of torque most people think is "realistic".
That said, GT7 steering feel is not just "noise". The feedback and cues I receive is close enough to the behavior I would experience in a real car that my ability to feel, learn, adjust, and improve is fine. Grip levels, understeer, weight transfer, reduced traction from elevation drops, increased grip during compression, and many other nuances are relayed well enough to be usable, rewarding, and fun.
That's how it goes for me. Of course I can't speak for anyone else. Finding agreement can be difficult in here at times. Every wheel is different, peoples settings are different. Some here are informed by real world experience, some don't know what it feels like to aggressively drive a car, some have never driven a car at all.
Hope this adds something constructive to the discussion.