Today sees patch #4 available on Steam for PC versions of F1 2012.
This update addresses a number of issues, including:

• Understeer: Adjusted track information to provide a more uniform level of grip across the entire surface

• Fixed an issue where some users (especially those on laptops) were unable to change their resolution.

• Fixed a crash in Co-op when trying to resume a session at the start of a Qualifying session that neither player would take part in.

• Fixed issues with the weather system in Instant Replays / Race Replays which could instantly change the track wetness level.

• Removed engine damage from the list of damaged parts that can force a pit stop to take priority over a drive through penalty.

• Changed the Prime tyre compound to Hard for Suzuka to match the race this weekend. This change will not affect Time Attack which will continue to use the Medium compound tyre.

• Added a white cross to the DRS OSD to indicate to that it is unavailable because of a fault.

• Fixed a number of minor graphical issues.

• Fixed a couple of minor issues with timers not resetting correctly.

Other changes of note:

• Added a Skip Session option so players can leave any session without having to complete it.

• Tweaked force feedback for all devices.

• Improved the lighting on Singapore.

Known issue:
Saves not synchronising with the Steam cloud. If you are experiencing issues with saves uploaded to Steam’s cloud, we recommend using saved games stored on your local drive/PC.
We are working on other issues you have reported via the forums, Facebook and Twitter and are working to fix them as quickly as possible. In the meantime, please note that we are still collecting feedback via our Technical Assistance forums and do encourage you to post your issues there being sure to include as much information as possible.
Thanks for your continued feedback!