I'm having the same issues. It first seems to unlock S1 properly, you can see all S1 content "activated", but then it appears that none of those tracks or cars can be loaded, as seen above. Without success I tried to run a clean install in another directory and get the content working, any ideas?
I found two NA servers with Airio which you could try out to see if your connection is fine with these: lfs://join=LFS.cl%20Demo lfs://join=%5BPQ%5DRank1
I think it would be good if other North American people told their opinion about your connection if it's fast enough for European servers.
I also got my G27 a couple of days ago. Did you download Logitech Game Software? Also make sure you have selected in Options - Controls throttle/brake axis to separate and clutch to axis. If the previous didn't help you can try to change axis under Axes/FF -tab. I hope this will help.