The AA is in the final build for at least on car models (dont know 2x 4x etc) The problem is HDR or the lighting/reflections cant have AA applied to it. I think its some graphical limitation for the system.
Regarding the visuals and why so many people get hung up on the AA issue i find kinda weird i have expressed in the past even GTHD, Motorstorm, F1 all have AA issues which are some of the latest games available, whys it such an issue for FM2?
We know this much, the game will look better than PGR3. The tracks also seem very accurate, Suzuka isnt just a flat surface. Pay particular attention to the left hand hairpin after the overpass that part of the track is rather bumpy ~ . Wheel owners can only hope that with such detail/bumps etc put into the track design the wheel will help get the full potential from it all.
I terms of graphics i have to say the game looks amazing, i little to bright (looks to me like a problem on ajusting the TV more than the game itself). The game runs very very smoth, i dont saw any slowdowns at any moment on those tracks, no pop up. The game looks a lot better than those Teamxbox game play screens, basically you dont see jaggies, but it looks a little weird on roof or others parts where the reflections is too much (hdr is the effect right?), there you see some small jaggies, the rest is amazing, overall i love it and i have side by side another screen with GT HD to compare, both game very pretty.