GTR2 is out
 

Here's TimSteven's (from NASIOC) review of the game. If I wrote my own review I'd pretty much say the exact same stuff:

http://www.digitaldisplacement.com/?p=1440

GTR2's a much more fun version of GTR, which was just plain old "too hard". I'm not sure if I like it better than rFactor, since rF's got way more extensibility... but rumor has it that all the data files in GTR2 are intentionally unencrypted meaning the modding community should be able to convert their rFactor tracks and car-sets over to GT2 with minimal headaches.

Also, GTR2 seems to run and look better than rFactor, especially the new weather effects. I've screwed around w/ the settings and my nearly 2 years old gaming PC can run max detail, 4xAA, w/ a bunch of cars on track, at 800x600 smoothly. Turning down some of the options and higher resolutions are smooth w/o much noticable loss of details.

All in all... if you're looking for a great sports car simulator, for only $19.99 at BestBuy, you can't really go wrong w/ GTR2.