Here's the setup I used in my career (1st season, Lotus):
Aerodynamics
Front Wing Angle: 8
Rear Wing Angle: 6
Braking
Balance: F 50% - R 50%
Pressure: High
Brake Size: N/A
Balance
Ballast Distribution: F 50% - R 50%
Front Anti-roll Bar: 4
Rear Anti-roll Bar: 10
Suspension
Front Ride Height: 2
Rear Ride Height: 2
Front Spring Stiffness: 5
Rear Spring Stiffness: 5
Gearbox
Gear 1: 137 kph / xxx mph
Gear 2: 167 kph / xxx mph
Gear 3: 197 kph / xxx mph
Gear 4: 226 kph / xxx mph
Gear 5: 257 kph / xxx mph
Gear 6: 287 kph / xxx mph
Gear 7: 322 kph / xxx mph
Engine
Throttle map: Fast
Fuel: Fixed
Alignment
Camber front: -1.50
Camber rear: -3.20
Toe front: 0.15
Toe rear: 0.50
This got me pole on Professional difficulty (high 1:47). I'm sure many of you could do better, as I'm not the greatest race driver, but the car feels good to drive. Maybe you could mess with the gearing a little, as with this you take the last corner in the low 5th, so acceleration out of it is not great, but I haven't noticed any other issues. Except the curbs. The curbs here are made of concentrated primordial evil.