There has been a follow-up post to the one yesterday, see belows news:
I believe the code on display at ECTS will be quite advandced, but still a long way from a finished product.
Should be good to finally see it though...
Another piece of news, in PC-Gamer, I was reading about F1 Licences, and it said that 4 are given out for each Formula One year.
For the 1999 year it said that Grand Prix 3 has one, Official F1 99 has another, Psygnosis' F199 has the 3rd, and F1 Championship by EA-Sports has the 4th.
Apparantly EA-sports wanted an exclusive licence, but they did not get one.
Although it is likely that that game will be more of an arcade-simu instead of a true sim like Grand Prix 3.