Yeah it's a great game which does indeed have KERS and DRS you have to struggle at the start with the likes of Virgin, Force India and HRT but once the other big teams offer you a contract then you will start to win the races.
I am in my first season at the moment and am upto Valencia with Virgin racing I have found it challenging and excellent fun on my G27 there is even safety cars!. I am yet to see one yet though and i am 8 races into the career what's up with that?