Essentially this game is F106 with improvements. The graphics are drastically improved, the AI is more challenging, the physics add more realism but most important of all is the inclusion of online multiplayer.
All the gameplay elements are the same as F106 in essence, but the online mode is where this game shines. Your able to race on any of the tracks, in any condition, with several other options avaliable, and yet it doesn't lose any graphical quality whatsoever, even in heavy rain!
Up to 11 people can race online, with 11 AI as well making up the full grid of 22 cars. If someone leaves mid-race, the AI will take over the car and continue the race. People can even join mid-race if there's a slot free, saving you from waiting in the lobby for the race to finish until you can join in on the fun.
Looking deeper into the game, there is still a lot of potential for Formula One games in the future, whether it'll be a better damage system right down to the minor details like moving marshalls. But for now, it appears we'll have to make do with the essential basics.
If your a Formula One fan, this game is a must just for the online experiance. If you own the Playstation 2 version of F106, this is just an upgraded version for the Playstation 3 with online play, and depending on whether you enjoyed the previous title will affect you choice to buy Championship Edition.