I bought these a while back but only just got round to trying them out.
Framerates are excellent, graphics are good and the feel (to me at least) is very good, AI seems to be ok too. The rFactor interface is a little clunky, there's a launch screen on the monitor followed by an overly large 2D interface in VR and the Oculus reset view doesn't seem to work but backspace does (not indicated in any control setting). On the plus side, my G25 was recognised and worked without having to mess with any turn scaling or button reassignments necessary. I think I just need to play with the FFB settings though to get a little more feel from kerbs if possible.
I bought this for Buckmore Park kart track as this is the only track I've karted on and it was a blast (in real life and in VR). Thoroughly recommend this, rFactor 2 is currently £25.79 (I got it for £12.89 in a sale) and includes 33 cars and 19 tracks and the KartSim DLC was £17.82 & still is I believe and includes 2 karts and 3 tracks.
If you've ever been to Buckmore Park or intend to go, this is a must, feels very realistic and I really think it could help your times or bring back some memories.