1. Yes, very much so. Though you are unable to fit this car with any GT-Auto aero parts (or even change the wheels, for that matter) it has sufficient downforce. Plenty of usable torque from 5000 to 8000rpm and a redline at 9000rpm (@550PP) it's my second favorite Ferrari at this performance range (favorite being the 512BB simply because it's a V12 with even more torque and the 5-speed means less shifting while still being stupid fast)
2. If driven well, you can run under 9:30 at Nurburgring 24h at 550PP with Sports Soft tires. My personal F430 is tuned to run on Sports Hard and Soft tires by way of specialized damper and spring rates. I rarely ever run race tires on street cars.
3. In my opinion, power limiting is blasphemy. You will lose much top end, and in a car with a 9000RPM redline, you need as much usable revs as possible to milk all the performance out of the car. When actually racing, and not just free-run or time-attack, you will miss having those extra 500-1000RPM's when drafting on a long straight or just to get those extra 5mph over your opponents.
5. At 550PP, my favorite Ferrari is the 512BB. It has a 5L V12, compared to the F430's 4.3L V8. Though it has a 5-speed (F430 has 6-speed) you actually have more usable torque and power because of the bigger engine and more cylinders pumping out all that brute strength. The F430 Scuderia isn't that much more special than the aforementioned cars, though it is more nimble. With practice and precise throttle and brake control, the 512BB will beat out the others in that power range (550PP)
PS:
Feel free to subscribe to my tuning thread (link in my signature, TheCardboardBox) as I've been working on a opus list of classic vehicles, including the likes of the 512BB (550PP) and the F40 (580PP) among many others soon to be released. My setups are specialized for online use, so there is no discrepancy on whether they're useful, or not, online.