This is a hugely important factor in how good a racing game is.
Forza3 is a good example of a racer where the handling is brilliant in ALL camera views.
Sega Rally and SHIFT2 are good examples of racers where the handling from external views is AWFUL because the cars jump and jerk around, but when you switch to in-car or bonnet angles it suddenly comes alive.
MotoGP 10/11 is one of the few which has poor in-car(bike) views but good external view controls.
I think the views you have are make or break for a racer.
Is there one view you ALWAYS use regardless? Or are you able to mix it up as I do depending on how it feels??