Past few years, some friends and I have used the McLaren GP League game on their website. But you only get to make a few changes during the year, so it's not all that interactive. Decided to try this one this year:

http://www.f1manager.info/

You get to pick two drivers, plus an engine and a chassis.

Anyone else sign up for this one? I

've picked DC, Davidson, Toyota chassis and Force India Ferrari for engines.