They worked so hard to make me hate this game, but I still love it even though I don't know if I'll ever finish it. It is almost impossibly hard in the end and the beginning. I've spent hours trying to beat a single one of the hundreds of races numerous times. Sometimes you have to complete 5 long laps without making any mistakes, or you have to do it all over again.
The handling is what always gets me back into it. It's probably the best of any racing game ever made. As for the replay value, if you ever finish the game you'll never want to play it again anyway. It's amazing how bad a game can be and still be great.