I'd definitely be interested in a GT3 version. I let one of my homeys have my copy of GT2 and to be honest, GT is just too ugly to play now that I've been spoiled on the new stuff.
I think that a series like this just sounds a bit intimidating for most folks. Something like this would take coordination and thought (omg). I for one think that these things are what make a racing series so fun to participate in. You just have to get over the fact that it will take a bit of effort first, which from what I've seen before in OLR, shouldn't be a problem considering the lengths people will go to for putting on a race in the first place.