I'm really happy to see what competition has done to the racing sim genre - the guys at Turn10 were obviously looking to surpass Polyphony and that motivation drove them to go from 0 to a very good title in few years.
While I support and respect Kazunori's approach to creation of his (and still my favourite) title, the scale and scope of these games are just too large for him current philosophy.
In other words, I wish they could have done more with what they had, and not be spread so thin. The WRC and Top Gear licenses in GT5 were absolutely squandered. I wonder if that happened due to licensing issues, lack of development resources, or even a lack of understanding of what these licenses truly mean. I still have trouble understanding how could they not use Top Gear's track and the Stig character for some very compelling and fun game mechanics.