Having contacted Codemasters they informed me that a patch is being designed that will hopefully fix all these major issues. My follow up enquiry was to ask exactly when the patch would be ready; unfortunately they replied:
Impossible to say with accuracy at this point I'm afraid, we're currently still investigating a number of reported issues.
Therefore, for the foreseeable future F1 2011 is a good looking, but slightly aloof single player game that brilliantly allows players to customise an F1 season to their individual tastes. This should be directly applicable to the co-op campaign as the majority of solo game is the same, except the co-op is broken. Any future patches may fix the co-op issues raising it from a ‘car crash’ 1 out of 5, to the ’third place podium’ 3.5.
The Co-Op Experience: Join up with a friend to play through a season as a co-op team.
Co-Optimus game reviews focus on the cooperative experience of a game, our final score graphic represents this experience along with an average score for the game overall. For an explanation of our scores please check our Review Score Explanation Guide.