Oh, I actually remember that game, so many good memories...
The music was quite painful but other than that I really did like it (even though my favourite racing game was always Star Wars Episode I Racer).
I imagine you had a lot of fun building your racers and their cars, just as we did? Ah, those N64 games... so simple, yet so much fun! I actually don't mind the music; what I found painful was steering the cars- they're a little touchy. However, once you get the feel for it, they're not bad.