I found something that helped a lot for me.
The first time I started the game, I thought I would play it using the keyboard only, as I did with previous NFS games and with Burnout Paradise. They keyboard controls seemed really wonky and I didn't like the key bindings.
I plugged in my Logitech 360-style controller and the game immediately recognized it, but the steering control was WAY too sensitive and I kept running into things. I had gone through the brief tutorial with the keyboard and then changed to the controller and was unhappy.
Now I've deleted the saved game (see elsewhere in the forum for instructions on how to do this- "Start a new game") and started Most Wanted again, this time with the controller plugged in. I went through the little tutorial where it shows you how to drift, etc and now the controller is much better calibrated. It's playing more like the NFS: The Run and Hot Pursuit.
If you're not too far into the game, and you're unhappy with the way the controls are calibrated, you might want to try this. You can always back up your local saved game first in case starting a new game does not help.
Of course, a "Settings" menu for changing the sensitivity and adjusting the steering would be far better, but right now I'm playing the game and enjoying it.