The beta was far from what we got on release, the physics/handling felt poorer, frame rate was awful in many places and many other things were incomplete. After that beta I was all but out of buying it. Then the demo came along and was a lot better, but it wasn't until day 3 and players started balancing out did it all come together for me. When it did, in terms of competitiveness, it was by far the best online racing experience I have had, and I've raced them all.
I have not really raced since before the Monza patch as I'm playing other games in other genres with my mates, but the two or three times I have jumped on it's instant, close competitive racing with people at my level. Being an online player, I can't ask for much more than that.