OK, I have never driven a real F355 but I can imagine it is not the most easy car to drive and barely something that can be compared to a kart... Or a Porsche !!!
If you flatten the gas pedal on start you will very easy get into an uncontrollable spin, something that would happen with a real Ferrari too as far as I've heard.
IMHO it is a simulator and knowing you a little bit! you are going to like it.
It is far, far away from ARCADE racers like Daytona, which are fun arcade games but are very unrealistic in most aspects.
If you loose distance to the race leaders, F355 is not going to "bring you back". you're just screwed I. That position, and that is exactly what would happen in the real world right ?
Don't kill me if I turn out to be wrong though

Here's a nice video:
http://youtu.be/u9Jo3IbW7fE