As I'm sure you're aware, it's been discussed a number of times here, and there's a particularly long thread specific to it (
https://www.gtplanet.net/forum/showthread.php?t=207589).
I tried a few of the setups in that thread, and settled on the RotaryJunkie setup, which worked the best of all for me.
After that, it was A LOT of races before I won it. At 5 laps/race, I'm sure I did more than 100 laps, with the big key being consistency - I could put in fast laps, but not 5 in a row - there's very little room for error here.
A couple of things that I found helped a lot were:
1. Make sure you find out exactly how fast you can take each corner. I *think* that tire wear is enabled for this, so second lap I found that I could corner faster.
2. Braking points matter - you not only need every last bit of speed out of the straights, but also need to brake in time for the car to settle down again before the corner. Especially on the way up to the corkscrew, I found that the sharp-ish left could be taken faster if I braked earlier and cut across the armco.
3. After the corkscrew, you can take the off-camber left and then right-hander MUCH faster than the AI. Don't accelerate in the left until you know you can hold it, and then turn in WAAAY early for the right, you'll make up lots of time.
Best of luck!