Personally, I think that the Skyline is a poor racing car. It's great on the road, where all the trick bits help you, and there's not such an abundance of power. 300bhp really isn't that much you know. It's manageable on the roads, and that's good. In real life, it's a good car. I personally wouldn't have one, because (a) I think it's uglier than a really ugly thing, and (b) the suspension settings are too hard for UK roads.
In the game, however, it's lost. It's too heavy, which means that it needs 300m of braking, and that's something that takes a lot of people a lot of time to get used to. It's NOT an F1 car, so you can't brake at the last board with it. If you try, you'll plough straight on to the scene of the accident, and then you'll post a load of mince in the nearest GT board you can find saying "it's s***, Polyphony Digital are a bunch of b****** for not making my fave car the best ever" etc etc.
Except you'll fail to spell "Polyphony" correctly.
The trouble is that weight is the enemy of speed, and you have to understand this. A heavy car will accelerate slower, take longer to slow down, and will not be able to corner as fast. You need to know three things to back this up:
Acceleration = Force / weight (where force = the combination of engine power and tyre grip)
Cornering speed = square root of (Force x radius / weight), where force is the maximum grip of the tyres.
Momentum = weight x speed squared.
As you can see then, engine power plays a very small part in determining a car's performance, and it's completely realistic that a Lotus Motorsports Elise (aka Exige) will annihilate a Skyline on a course like Laguna Seca or Trial Mt, because it would do the same in real life, and until you've gone really fast in these sorts of cars in real life, you have no real understanding of this.
Sorry, but lightened or not, the Skyline is simply too heavy to be a realistic proposition on a race track, 1000bhp or not.
Oh, and the opinion on the car's looks is my opinion, so don't go trashing this reasoned post by saying that the Skyline is a looker. You might think so, I do not, the rest of the post is fact.