Two things:
First, I think the Falcon XR8 in GT3 is a great car. Even with that broom-like thing at the front, made for sweeping all the debris left on the course, he he he. Anyway, I've beat good drivers in ZZ-IIs and Skylines using the XR8, granted, it's tuned up to 900+hp, but the way it sticks to the road and doesn't drift out place it among my favorite cars in the whole game.
Second, I think Pro Race Driver from Codemasters is a good game, although at a level below GT3. Specially in the promos, where it looked like the next best thing, and once you play it, it's slow, the graphics are only good on the intros and although the sound is pretty realistic, it's not much better than GT3. Don't get me wrong, I actually bought the game ($50) but after a few races, I just decided I didn't like it. Even though you have "racing" tires and "racing" brakes, the cars slide all over the circuit. Perhaps that makes it more realistic and more challenging, but to tell the truth, when you're using Dualshock analog controllers it can get pretty damn frustrating!
One last thing, even though Pro Race Driver includes car damage, something we've all (or most) been asking GT series to have, the damage is very predictable, i.e., the same part always come off.
As I said before, it's a good game and I'm glad I bought it, but it's a far cry from the fun, challenge and possibilities of the GT series.