Yikes! That's terrible driving in that video - not you, I assume Shaggy - so it it isn't a very good indicator of what's required to put in a fast time in F1CE. I think it's hard to put together a fast lap in F1CE because everything you do has consequences. In F1 2010 you can muscle the car from one corner quite unrealistically into the next, often with the front wheels at a totally impossible angle. I'm amazed you don't notice this Shaggy.
I actually feel the FFB is pretty good in F1 2010, albeit a bit light. The FFB in F1CE does a great job of conveying the bumpiness of driving a car with very firm suspension sitting a few inches off the ground, but as I've said already, it gives almost no sense of what the tires are doing.
F1 2010 gives a good sense of the speed & excitement of racing an F1 car might be like, but with the "sim difficulty" largely removed, which is exactly what CM were aiming at IMO. I submit this famous Top Gear episode as reference ...
http://www.youtube.com/watch?v=EGUZJVY-sHo&feature=player_embedded
Au contraire

, that guy xALONZOx is one of the top F1:CE racers online, a good 1-2 seconds quicker than I was, and all the top guys drove in that manner - mega late braking, deliberately going wide to square the corners and get on full throttle earlier with no throttle modulation whatsoever in between and barely any coasting. Another example of what I mean is this:
The key is turn 12 (the third last corner), where he deliberately goes wide to get on full throttle earlier for the following corner.
This is a decent lap of the same track in F1 2010:
He takes that corner similarly to how I would, if anything he lost a little bit of time going slightly wide there, rather than probably gaining time as he would have in F1:CE.
And here is the final reference to the real thing:
F1 2010 requires you to hug the corners as is the case in real life by applying the right amount of throttle. F1:CE just doesn't operate in this way. Asides from all of this, I think the handling in the F1 2010 lap generally looks a lot closer to the Webber lap than the F1:CE lap, which I assure you is a seriously quick lap time in that game where he's left practically nothing on the table.
I don't want to overstate my case, and i'm just using this as one particular example of the wider picture. You can drive in a realistic manner in F1:CE if you want to, but you're actually losing time in doing so.
I hear your point about muscling the cars into corners with the wheels pointed in impossible angles, but as you can see from the above lap (which I believe would be a top 20 lap time on the leaderboards) he doesn't do this because although you
can do it, in doing so you're scrubbing off an excessive amount of speed - it's still quicker to take smoother lines through a corner.
The Top Gear lap that Hammond did was a brutal insight into what it is like for a total novice to be put into an F1 car, and I'm not trying to say F1 2010 is realistic in terms of its accessibility. However that is one end of the spectrum. What I mean is that when you're driving on the limit within the game, it handles a lot more closely to real life than what F1:CE does. It allows us mere mortals to drive these cars and place them in a similar way to as you see on tv.
I've posted this before in another thread but I think it merits being posted again:
Just a few quotes:
"I feel
incredibly confident in this car, it's like it's on rails. Not too much problem without traction control, I expected the car to slide more"
"It's always a pleasure to drive these latest Formula One cars, they're just an extension of your body. They're so instinctive and easy to drive in many respects."
I would say F1 2010 ticks all of these boxes. So in conclusion, if the game has to be judged on how closely it makes you
feel like an F1 driver (and i'm not referring to the 'live the life' stuff in the paddock), F1 2010 succeeds in a big way. But in terms of absolute realism of the physics, it's probably just as far off real life as F1:CE was.