Personally if I had to chose I'd rather have undercar shadows over grandstand shadows, as it stands you have to keep upping the setting to get undercar, maybe a new option to allow this? example: Off Low Low with undercar
Yes, at the very least a blob shadow. Which is essentially a decal projected onto the track surface--VERY cheap, it's the oldest trick in the book, and is even used on iPhone games--but at it at least grounds the car to the track surface.