Apart from the fact it understeers like a pig, i don't find the default too bad actually. But i'll give that one a try thx PK. I know P&P are working hard on a new setup, hopefully we should have the first revision of that soon.
Ekempey, A proper setup will help you a bit you need to be VERY patient with the corners here. Brake early and slow down waaay more than you think (a couple of them are almost done at a standstil) Hold the car on low throttle and don't try to apply more power until you are well clear of the apex. This is particulary crucial at T4 as it's a very tight apex but the opening exit tempts you into getting on the power earlier than is safe. With most tracks the aim is to get on the power as early as possible but you can't attack this circuit like that. The elevation and camber changes mean the car is unsettled through a lot of the corners. It feels frustrating at first as you literally crawl round but after a few sessions you will learn to spot the safe braking and accelleration pionts and it becomes very addictive to drive. This is one of those tracks that dares you into trying to go faster then bites you in the arse when you try

EDIT: Pumbaa is right about the gearing, I do all the tight corners in 2nd, you could try 3rd but you will lose a lot of the engine braking benefit and it will also compromise you acceleration speed on exit. You certainly shouldn't be in 1st (i dunno if you are) as that's asking for trouble in these cars.