I agree, multiplayer would be cool, but alas not practical
The idea of having shorter races and drivers able to save/reload is so you can do the odd lap or two when you have 5 minutes spare- not to encourage people to use that to get a perfect race. The main aim of the compeition isn't to win, but to play GP3 and compare yourself against others. It's friendly competition, we're not playing for trophys, just bragging rights! If people find saving/reloading after every corner fun, they can do that, the rest of us will probably race a couple laps, save and go do something else, and come back to it a couple days later. That is the idea anyway!
As for failures, they'll be turned off. And people editing their files will show up as they're checked, so they'll get found out :P
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forum.gp3world.com] is the place to go if you want to ask more league related questions. We've also got an F1 forum there now too :D