Been playing the demo on the xbox.. Its pretty sweet, I love the graphics. They improved some things over 2, but the steering feels mushy to me, I hope I'll be able to change that when I get the full version. I love the cabin view, I'm really happy they incorporated that into the game. On expert mode (the only way I play), you now have a manual tranny with clutch.
Shifting with clutch is really cool, but downshifting can take some getting used to. As you use the left trigger to brake, and the left upper button to press the clutch. This leaves me using the middle finger to brake (less precision in my case since I'm not used to using it, especially when its proportional), and using my index for the clutch.
I hope you can still tune the cars before racing (like in F2, but its not there in the demo), and in the demo at least- there are no tire wear/ heat and damage indicators. I hope this is not the case for the full version. It promises to be fun to play cause the demo track is 20X more scenic than anything in F2, more NFS style.