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That Guy said:
From wiki:

n an April 2008 interview, Kazunori Yamauchi revealed that 150 people had worked on Gran Turismo 5 for four years, with all of Polyphony Digital's 120 employees working on GT5, and the game costing 50 times more to develop than the original Gran Turismo.[1] He also confessed that GT5 might not be released until after 2009.[1]

I figure most of the work now is securing liscenses and drawing in those stupid cars. The game engine itself probably won't change too much from Prologue.

I say release it with like 500 cars now, and then just continue adding new cars as free DLC into the game.

 

They are planning to add damage, and the online system is far from complete.