For racing realism it doesn't amount to a pimple on the ass of "Grand Prix" or "LeMans" but it stacks up pretty well against "Days of Thunder" and "Talladega Nights."
The best thing about watching a digital copy is that I got to skip over the a lot of the pointless bits (which were multitudinous). They could have made it a third less boring just by skipping the last hour.
It's not really about F1, it's not even really about racing. It reminds me of a review for the Eddie Murphy movie, "Mr. Church," that had the best 6-word review in the history of cinema:
Eddie Murphy Fixes White People’s Lives
In that same vein, my 6-word review for "F1: The Movie":
Brad Pitt fixes Formula One racing
Minus that one guy, what's his name Tom Snewz or something that was also in that Top Gun movie ?