Since none of us are about to be real F1 drivers anytime soon, simulating the sensation is pretty much the most awesome thing we can do to enjoy the experience. Short of driving a real regulation racer on the tracks, the Cruden Hexatech F1 Simulator should prove the best option you have available.
In fact, I'd go so far as to imply that it's better than shelling out primo cash to spend a day doing laps with Schumacher. That's just a few hours of fun. Behind the wheel of the Hexatech, you can go lap after lap till your hips lock in seated position and you can no longer stand up till all of eternity.
The Cruden Hexatech is a full-sized, professional racing simulator (that's claimed to be) based on the exact hardware that professional drivers use in their training. Setup starts with a customized cabin that works hand-in-hand with six actuators, allowing for "six degrees of freedom" (6DOF) in electro-mechanical movement. Seats include both motorsports-grade seatbelts and tensioners to further heighten the realistic sensations. Three 42-inch monitors envelop the driver's periphery, with options for a second PC and projector to allow spectators to watch the ensuing action (or your driving coach to give you feedback).
Cruden uses their own software for the rig, although folks with their own army of coders can outfit it with their own. According to the company, their in-house system allows for simulation of numerous conditions, including lap shootouts, endurance races and events such as F1 and NASCAR.
Simply put, the Cruden Hexatech F1 Simulator is not a video game. It's a serious racing tool that you can, of course, use for your own amusement. That is, if you can afford the $193,000 price.