Originally posted by Thio
In order to four wheel drift,here's what you have to do:
1. Don't countersteer. If you countersteer, then it's considered two wheel drift, like in Initial D.
2. Control the car by throttle/braking.
The advantage: makes car drift through corners at faster speeds compared to two wheel drift
The disadvantage: doesn't look as exciting as two wheel drift, but still looks exciting
You have the right Idea Thio, and your description here is pretty accurate but it applies more to FR cars then AWD. With AWD cars, very large drift angles can be achieved with little or no countersteer so this description of a 4-wheel drift cannot be used for AWD cars since a large drift angle means that the wheels have lost traction. In a 4 wheel drift all the wheels must be at the tires friction limit this will cause the car to drift slightly but not slide.
FR cars can also have large drift angles with no counter steer but they are usually in the form of a braking drift or in a car that understeers heavily (ex. GT40 or some AWD cars). So for AWD cars any drift where one or more tires has lost traction, meaning that it is sliding, is not really a 4-wheel drift.
Drifting slightly at the beginning or before the turn (but not a 4 wheel drift) with a car that understeers allows the drive to press the accelerator sooner, and it usually results in a faster exit speeds. Even though this is faster than normal grip driving and much faster than high angle drifting, it is not a true 4-wheel drift since there is some sliding going on.
Now, Im not sure if my previous stament is entirely true in real life since I have never seen a pro driver drift noticeably to gain speed in any way (not counting rally driving). This could be due to the fact that those cars are never set up in a way that drifting will actually help, since if they did it would wear out the tires considerably faster. So I think it is either a slight smudge in the GT3 physics engine, or can only be done with certain settings that no one would ever use in real life.
If anyone disagrees I am more than open to discuss it, since I will probably learn something new in the end, and i think we should all question what we read in forums before we take it as truth.
Edit: After reading some more of neon_dukes posts, I changed the words slip or slipping to slide or sliding since there seems to be a convention and a big difference.