Overview of game settings used by Thomas in HotProps. Hope this is of help.
NOTE: Thomas is running this with his Turnigy 9X Radio via a USB dongle - Same setup as shown in the Freerider video
UPDATED INFO
I tried this application on a 2011 MacBook Pro and unfortunately couldn't get it running. Most likely reason is the application is still in Alfa so don't expect too much. I assume once it gets closer to release these problems will be resolved. As far as the physics go, that's going to come down to making all the necessary adjustments. So if you don't have a powerful gaming machine, then not much point in attempting to install this version.