Here are some links on the history of the "World of Subways" PATH. Hudson & Manhattan RR http://www.hudsoncity.net/tubesenglish/ And another set including stations that were never built http://www.tmk.com/hm_gallery/ A Shorpy pic http://www.shorpy.com/node/1774 I haven't digested all of the links listed in the first site yet.
I like the sim. I also think the physics are off, but I'm not sure by how much. It has been a long time since I rode PATH; I'm more used the the NYC subways which have very fast brakes and fairly quick acceleration(much faster than the Metro North for example.)
I never use the train guide and don't worry about the speed limit penalties -- these cars did not have speedometers and you estimated your speed using the throttle notches and your best guess. Also the psychology was to be alert to the track conditions for workers, other people and obstacles; especially alert when you entered a station -- for jumpers. It seems that there are no speed time signals like most of the NYC subway lines have now, but didn't have (except for a few)15-25 years ago. I remember the Lexington Avenue Express from 86th Street north to 125th Street. It now has a timer I think, and a kink in the track that wasn't there years ago. Even with the older cars of 25 years ago I'm sure we used to travel around 50+ mph on one downhill stretch. Almost as good as an amusement park ride.
Hope you find the links useful.
edit: I started checking the links on the first site and most are old, but there is another one which you can use to lead you to more information on the tubes http://world.nycsubway.org/us/path/