I just won, by a very very very large margin.
I turned a first lap of 6:30.671 which was good enough to be 9 seconds back and 4th place.
My 2nd lap was alot slower, 6:40.709 a full 10 seconds slower. One would think that it could be the nail in the coffin, but I won by a whopping 23.688 SECONDS. The AI is not very aggressive at the 'Ring, as I took the lead just slightly after trap 2 on the 2nd lap.
My settings:
TC 1
Skid Recovery On
Active Steering Mild
ABS 1
Top Speed was 236 MPH but it could probably be lowered because the car doesn't get past 215-220 on the straight.
Full Downforce
I messed around with the LSD a bit for fun and I found this to be ideal
Initial Torque 0/30
Acceleration 0/60
Braking 0/5.
The car requires at least one wheel on the pavement at almost all times (yet the shortcut right before trap 3 can be taken, you need to baby both the throttle and brakes in the grass to avoid spinning the rear of the car around as it will snap).
I believe its possible (99% sure) that the entire track can be taken in gears 2-4 and you don't have to shift to first gear period. I can recall only 2 or 3 times where the car dipped into first gear and my suggestion is to stay out of first gear as much as possible because the car seems to be a bit slow accelerating into 2nd gear.