Good call superwally.
Setup: Driving Force Pro on custom table, Dell projector onto wall at range 11ft, 8ft wide viewscreen in 16:9 mode. Seat: Leather corner sofa (surprisingly supportive and comfy!)
View: Bumper camera too. I just can't get it right any other way. And with superwall-o-vision, it feels right too.
Screen setup: I use the 'simple' view mode, but I leave the map up. This means I don't know what my fastest is, and I don't know if I'm in front or behind my ghost until the splits come up. I only changed recently (for WRS) but now I wouldn't have it any other way.
I'm a 'visual marker' brake person, usually trackside objects, but shadows work well. I also use a balanced throttle a lot (comes from my professional driver training) and I left-foot brake when I think it might work. Every now and then, I yank the handbrake. I have it on the d-pad down, which isn't great if you're scrabbling around with 3/4-turn of lock, but not bad. My ghost is on the up d-pad, so i can flick it on and off quick on the straights.
As for speed, I only look when I've dialled in a bit. Then I look at some replays and try to pick out my problem areas.
Recently, I've put in a few two-hour sessions. My longest sessions are not WRS, sometimes I get friends round and we attack one track with one car, trying to really nail it, goading each other on. That's fun.
Combo: I like to drive hairily to begin, to feel a car out, then start reigning it in, usually going faster by not being silly. This is probably the wrong way around - I should start with a smooth slow line, and just keep it smooth but go faster. I find when I'm completely "in the zone", if I screw up on a corner and lose 10/20mph, by the time I get to the next corner, I hit the brakes, then am way too early for the apex, because I'm usually carrying more speed. It's quite interesting when that happens - I've usually got in a groove for maybe 10 laps, and the first 'big' screw-up kinda wakes me up out of auto-pilot!
Finally, I love the sounds of GT4. Sometimes I'll just get my ol' black supercharged Mercury Cougar out and drive 'legally' around a circuit, just crooozin' and listening to the burblyburblypop.

Then I'll light it up and spend the next two minutes going sideways.

And then I might snap a few shots. It's too time consuming really, but I've got the GT4 bug back pretty bad, so meh.
V.