F1 2010 full system requirements have been announced and confirmed by Codemasters.

Formula 1 2010 Minimum Requirements

Windows XP/Vista/7
DirectX 9.0c
Intel Core 2 Duo @ 2.4GHz or Athlon X2
1GB RAM (2GB for Vista)
Graphics Card: GeForce 7800 / Radeon X1800 or above
DirectX Compatible Sound Card or motherboard audio
Dual Layer Compatible DVD-ROM Drive
12.5 GB Hard Drive Space

Formula 1 2010 Recommended Requirements

Windows XP/Vista/7
DirectX 9.0c
Intel Core 2 Duo @ 2.66GHz or Athlon X2 4200+
2GB RAM
Graphics Card: GeForce 9800 or ATI Radeon HD 4850 series
DirectX Compatible Sound Card or motherboard audio
Dual Layer Compatible DVD-ROM Drive
12.5 GB Hard Drive Space

Formula 1 2010 Supported Graphics cards

ATI Radeon x1800, x1900, x1950, HD2400, HD2600, HD2900, HD3XXX Series, HD4XXX Series, HD5XXX Series

NVIDIA Geforce 7800, 7900, 7950, 7950Gx2, 8400, 8600, 8800, 9600, 9800, 9800Gx2, GeForce 210, GT220, GTS250, GTX2XX Series, GTX4XX Series

Formula 1 2010 Network/Internet Play Requirements

Broadband internet connection required (512kbps+ recommended)
TCP/IP Network

Formula 1 2010 Other Requirements

Not compatible with all integrated sound/graphics solutions (inc. laptops).