IGN has posted an interview with Stephen Hood, Chief Developer on F1 2010
IGN: "For those that want to play it as a full simulation, how deep will they be able to go?"
Stephen: "You can control pretty much everything from intricate levels of car setup to tyre choices and race strategy. You can also change settings such as your engine power, wing heights and what tyres you want to change to on the fly while driving by using the D-pad. This is particularly important if it starts to rain. Will you play safe and go for full wets or maybe take a gamble and go for the inters?
For those people who don't want to worry about the intricacies your Race Engineer can take control of all of these decisions and settings."