Project CARS (Community Assisted Racing Sim)
If you like racing sims, this is one to look out for. Done by Slightly Mad Studios (featuring ex-Simbin, Blimey and even Grand Prix Legends-era Papyrus folk) who did Shift 1 & 2, but this time without the involvement of a big publisher like EA to interfere with the development process, they aim to create a driving simulator with no compromises in physics and glorious graphics, done for and funded by the community, and will be available in pretty identical form for both the PC and consoles. From what I've seen, they might just make it.
It's still very firmly in pre-alpha and only around 10% done, they're shooting for a release somewhere in late 2012. If you want to support the development process, you can chip in right now. 10€ gets you access to the forums where you can communicate with the developers, read the meeting minutes, and you get to play a new build of the game once a month. 25€ gets you weekly builds, and if you really want to get into it, there are options for 100€ (watch live meetings), 1 000€ (bi-weekly builds, attend meetings and access to game scripts), and even 25 000€ (stuff).
Currently on weekly build #86, and the graphics are on par or better than Shift 2 and the physics are clearly above Shift 2, but still very much alpha. Currently there are 10 cars (3 classic Formula cars, one modern GP2 car, two lightweight track cars, Le Mans prototype, a high performance Touring Car, a kart and one street legal lightweight) with several more confirmed to be released soon (judging by the renderings on the forums they're not too far from alpha releases), 4 tracks with a few different layouts in each and a test track that has all sorts of features (a swooping mountain road for example), so there's plenty to do already.
All sorts of stuff gets added in each weekly build and the physics are worked on constantly, it's exciting to see how it develops. So yeah, if you like racing sims and/or are interested in seeing how a game gets from pre-alpha to release, and can spare about $13.6, chip in and join the process. =)
EDIT: And those who watch Top Gear, ex-Stig Ben Collins is on board as a physics and handling consultant, so we can expect educated feedback for both street and racing cars.
EDIT2: Oh yeah, forgot to mention: Everyone that chips in will be entitled to a portion of the profits the game generates after it's finally released. Won't be much for the 10-25€ folk, but it's something. The sales requirements to break even aren't ludicrously high, but you won't be making a living off it by any means. =)