You can do a heck of a lot better than you can with the catch up format. With the standing starts you can make your car lap at roughly the same time as the leader, and race with them for the lap. Yes, you'll more than likely pass them on the corners and be passed on the straights and whilst it's still rubbish I content it's still better than handicapping your car so you only lap 4 seconds a lap faster than the leader rather than 8 and catch him slower.
In GT6 if you handicap your car so it laps at the same rough time as the leader you'll never win or have a decent race because you'll forever be the 20-30 seconds behind that you started.
But then as
@Tornado says that doesn't happen anyway because the AI will slow down on purpose to let you catch them. This combination of systems make offline racing in GT6 almost impossible to enjoy.
As for other PS3 games none may be perfect, we're years away from that on any platform, I can't think of a game with
worse AI than GT.