Oh, hell no!
I could never understand people who say they love GTA 4 driving. It was horrible (although the cheap, not fitting engine sounds don't help). The cars handled like boats, and all felt the same. Remember how Perennial felt different from Cartel Cruiser? Remember Rumpo and Yakuza Stinger? Every car in Renderware world had unique physics and handling. GTA 4 cars all just felt the same.
Shock absorbers/springs which would have failed an MOT in a real world, huge turning radius, but most of all once you left the road you might as well just walk. Even Rancher, the supposedly offroad king, will slip helplessly on any patch of grass. For someone who loves the countryside driving to bits this is a decisive point.
GTA should have SA driving physics, movement physics and pretty much anything to do with physics. Except for the collision model, which was one thing I loved in 4.
But in all fairness, as I said before - they just need to drop Rage. As long as GTA is on Rage it will remain a mediocre disappointment to the series. It's a table tennis engine, end of story.