As somebody else said, it's really just down to taste. It is highly difficult to make truly realistic.
Personally I think that iRacing video is a horrid way to do it. When I drive my car, my point of view moves, the road and everything around the car moves, but the car does not swing freely as if unconnected to either. That is just surreal. I'm sure it would be better if you could feel FFB though, so the movements would match up to something, at least.
If that's the only option in iR, I'll take rFactor's head shake over that any day. At least in rF the movement is fully configurable, both overall and specifically so you can dial out what you don't like or add more of what you want(if you have plenty of time to fiddle with it). Even GT5's odd "vibration with no movement" is better than that video, for me.
Still, I'd find anything preferable to a locked camera.
Voted no on the poll however, as it should be an option for those who hate it, and adjustable for those that do... just like "look to apex."