this is from madmans original notes:
; Slipstream emulation development Notes:
; ---------------------------------------------------------------------------
; Emulating slipstream effect that work when driving behind other car's tail.
; The emulation using three sections containing adjustable data available for
; separated circuits and cars. Each section containing 17 lines of key pair,
; where each line represent an array of 22 item members for each car. This
; gives you full custom values that will emulating different slipstream
; effect for any circuits as well as any cars. Different set of values for
; circuit will gives different effects based on humidity, air pressure,
; avarage temperature, etc. Different set of values for cars will gives
; different aerodynamic behaviors for specific cars when traveling through
; slipstream trail area.
;
; Three sections of value definition used to represent coefficient value of
; aerodynamic drag and grip for specific car within slipstream area. All
; these values are in percentage and ranged from 0-100. Any values beyond
; this range or zero will fall back to default GP4 behavior. Values with
; smallest percentage (1 percent) gives you smallest results to slipstream
; effect. As a guide, setting the value to 100 percent is based from the
; highest speed in closest distance. This mean, even you set the value to
; 100 percent, you will notice none or less differences if the front car
; traveling in low speed or far from your distance.
;
; Three types of drag values are defined; drag produce by front wing, rear
; rear wing, and overall aerodynamic calculation. Please note all values
; defined here are should not assumed to produce realistic effects. They
; only represent set of "noticeable" slipstream effects. You'll need to
; reduce these values to get better or realistic effects when your car
; traveling inside slipstream trail area. Be careful to adjust front and
; rear drag. Value differences greater than 10 percent may causing your car
; to spin or unstable especially in high speed, depend on current car's
; aerodynamic setups.
;
; Slipstream area working about 1-10 meters behind a car which depending to
; car speed and distance. higher the speed will produce bigger area. The
; effect of traveling inside slipstream area will be noticeable by loosing
; of grip, understeer, higher RPM without increasing significant speed at
; straight line, etc. The effects also noticeable when you are using force
; feedback controller.
;
; Notes:
; This is a revision version from the original which has a small "bug" on
; font and rear calculation. This fix also improving math codes used to
; calculating slipstream areas based on front car's distance and speed. The
; values now also using positive percentage (it always ranged from 0-100).
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[SLIPSTREAM_GRIPS_FRONT] from what i know, this determines the amount of grip the front end has, but the numbers are reversed. i.e 100% grip is 0 and 0% is 100, it can also be interpreted as understeer, at 0 you obviously get no understeer and at 100 you can't turn in, a value from 20-30 would be most realistic.
[SLIPSTREAM_GRIPS_REAR] i think this determines how dirty the air will be when it leaves the rear wing, so if you set it to 40 and the value for grip_front is 30 you'll notice more understeer, what i try to do is to get the values of the front and rear as near as possible, but if you wonder why they aren't the same, its beause i remember montoya and button once saying that following the ferrari was so hard, but other cars were produed less dirty air.
[SLIPSTREAM_GRIPS_DRAG] is basically the calculation of the effect but i'm not too sure. i.e its the default slipstream effect times (X) 0.3 so if you add extra values to the front and rear then change the calculation to 5 it would add the values then times it by 5, but this is just speculation, i haven't tweaked the data for a while.
hope this help