I've played the main game enough to at least UNDERSTAND the concepts of the races and tires and such, even if my track times are nowhere near Jensen or Hamilton.
I'm up for redoing the season in a Grand Prix style bracket with the assembled. I don't think you get all of the fancy pit interactions doing that, but it's still something cool. When I see how many yea/nays we get, we can start picking drivers.
I think it's rather obvious, but the base requirement is F1 for PC. We'll decide on a year when we see what everyone has (I have 2012 myself). Personally, I recommend a gamepad, makes it a lot friendlier on the corners.