A great effort, but has some minor flaws.
F1 2010 was a sensational game. Visuals were realistic. Driving was spot on. On screen displays and aides were unintrusive. It was a fantastically accessible Formula One game for drivers of any skill level.
A year on and we get F1 2011. Visuals look more arcade rather than realistic. Controls are so much different and cars don't feel as well balanced as the 2010 release. The driving line aid is so ugly and off putting it often obscures the road to mess up your corner approach. Add to this glitches like invisible barriers that stop the car dead when you stray too close to a wall/barrier.
Unfortunately this game just doesn't feel as real or serious as 2010. It still suffers from questionable penalty and warnings like 2010 too. It's still a very good game though but its not quite as exciting or engaging as 2010. It feels like the best parts of the game have been made a tiny bit worse rather than making the worse bits a tiny bit better.
If you've played F1 2010 you'll still enjoy 2011. If you're into Formula One and want the best F1 game for PS3 then get F1 2010 instead.