I really enjoyed this game, but a few issues kept me from rating it as highly as I wanted to. First off, you nailed the feel (and sometimes frustration) of classic racing games from my childhood. Well done! The music is superb, and the tracks and art is very nice. You really captured the pacing and planning of overtakes that I think is a part of a good racing game.
Two things hurt the experience for me. First, hard collisions when you veer off-track or hit a car (or a car hits you). This is a design choice, but I like having more control and a chance to recover from mistakes. The second, bigger issue is that keyboard steering is way too sensitive. It was very difficult to line up straight, which greatly increases your chances of oscillating and collisions that kill your speed. Maybe either lowering the steer amount or adding some damping would fix this?
Overall, this was super fun. If the frustrations were gone I would probably play a stupid amount of this game.