I could spend a very long time going into detail on the deficiencies in CPR's vehicle dynamics and graphics, but there is a much more effective way to demonstrate them, if you are willing to invest some time and about $50. Call 1-800-UBI-SOFT and order a copy of F1RS.
Do a full install of the Glide version on a serious game machine: minimum Pentium 200MMX with a Voodoo Graphics card (not Voodoo Rush) and a decent wheel and pedals (Thrustmaster T2 or better). Make sure the refresh rate on the Voodoo card is at default. Apply the latest patch from Ubi Soft.
Go into F1RS\CPA\DLLl\SND_CPA.INI and disable the CD tracks by setting CD_ON_OFF=OFF and quiet down the opponents by setting SXD_DIST_FADE=15. Make sure your wheel's pots are perfectly clean: the pointer should move smoothly with absolutely no jumping when you calibrate the wheel in Windows 95's Control Panel/Game Controllers. In F1RS Configuration/Controls, click the little round button near the bottom and set Steering Sensitivity to about 25%. Make sure all graphics details are on, and replays off unless you've got something faster than a P-200.
Select the Realistic option on the main menu, and turn off all driver aids in Options. Grab some setups from the Web; see links on my F1RS page, and try some Time Attack at Monza, Imola, and Monaco.
You'll notice immediately that F1RS is characterized by fluid motion and stunning, crisp, highly detailed graphics and visual effects. It takes a little more time to get a feel for the car's behavior. Spend a few hours with it, long enough to get down to, say, 1:25 at Monza, and 1:21 at Interlagos. Do some 1:38's at Melbourne, and get into the 1:26 range at Monaco. With no driver aids except ideal line; no ABS, no traction control.
F1RS' vehicle dynamics have a precise, direct, mechanical feel, and amazing realism in all kinds of situations. Drop a wheel off the right side edge under braking for the second chicane at Monza, and then pull the car back onto the track with the brakes still on, for example. Or touch the left-hand curb at the apex of the exit portion of the Ascari chicane while under power. Ride up on the curb at the exit of Monza's second Lesmo under full throttle. Fling the car around Casino and down the chute to Mirabeau at Monaco, or accelerate hard through Piratella at Imola while cornering on the limit.
You'll see what I mean.
F1RS isn't perfect; the menus suck big time, for example. Terminal Reality and Microsoft did a much better job on CPR's menus, though they are not perfect either. F1RS has a serious flaw in that some tracks like Suzuka and Hungaroring lack appropriate elevation changes. Replays are poorly implemented, and user interface issues abound.
But where it counts, in the graphics and physics implementations, F1RS is superb. If spending some serious time with it doesn't show you what's wrong with CPR, then nothing I can say will make any difference.