WOW! For a second there, I thought I was at GameFaqs...
What I meant by starting this thread was to get an understanding on what the settings actually do to the car itself. I did happen across a GT4 LSD guide from Scaff:
Initial Torque Settings
Opening (lower values) Improves the cars manoeuvrability. Reduces the effect of the accel. and decel. LSD settings.
Locking (higher values) Increase the effect of the accel and decel LSD settings up to a point, after which the effect will decrease. Reduces the cars manouverability.
Accel. Settings
Locking (higher value) Increases traction out of corners by limiting wheel spin. Limits the car’s ability to turn, particularly in tight corners.
Opening (lower value) Reduces traction out of corners by increasing the chances of wheel spin. Improves the car’s ability to turn, particularly in tight corners.
Decel Settings
Locking (higher value) Increases stability when decelerating into a corner. Limits the car’s ability to turn.
Opening (lower value) Reduces stability when decelerating into a corner. Improves the car’s ability to turn.
If I have wasted your time, well...