i would personally be inclined more towards real physics. if the physics are unrealistic (such as in the example you said) someone who knows how it all works will find that disappointing (as you said) but also find it frustrating as it'll be counter-intuitive.

in order to make it easier for players in general, instead of making the physics less realistic, perhaps you could automate some of the control?

for example, in Halo you just need to point your camera in one direction, then hit "accelerate" and your warthog will turn itself in the right direction for you whilst driving properly.

julz