I just downloaded the demo - there doesn't seem to be a cockpit view like in PGR2 - is this representative of the full version?
I'm traditionally a bumper view player on, well, all racing games but on PGR2 the cockpit view is pure *FUN*. When I flick to bumper cam it's much easier to play, you're right - you can take corners with much more accuracy but it just doesn't feel like you're driving. Tbh, if I was playing on a TV I may feel diff, but my xbox is hooked up to my projector and it's an incredibly immersive feeling playing in cockpit view with a 106" screen. The feeling of speed is awesome.
Oh, also - when it comes to realisim (something forza claims to be all about) cockpit view is more satisfying. That's what I play GTR/GTR2 on and it's much better.