I noticed that billboards which are reflected in wet road are rotating in different direction than those at the top and sometimes they are not visible (depends on camera angle)
Yes that is looking very very good. Looks as good if not better than the latest iRacing tracks with the updated shaders. Another thing that stands out in the above shots is the grass and foliage in general. Colour looks good for grass and the detail again looks very iRacing, it's looking very professional.
Another example. Billboards in wet road look different (different angle) from onboard camera than from free camera. http://feels3.strefa.pl/sim/GRAB_584.JPG