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No if you've got the right hardware there won't be any slowdowns and controllers? stuff them, you'd use a PC wheel which are basically the same as the Logitech one.PhatFatIt would stink on PC, Ok it could have better physics and graphics, but even on high end systems a computer sometimes runs slow for a minute, and controllers never feel as well intergrated into the game.
Anyway while a GT on PC would be great its a pipe dream and nothing more so get your PS2's revved up.