DigiVoyager, Playing Cave's early PS2 racing game Touge 3 , funnily released as Road Rage 3 in the west when the 2nd never left Japan & the 1st was called High Velocity.
It passes the vibe check with a smooth soundtrack and fun physics that lean somewhat towards sim but keep most of that arcade feel. The controls are good & you can calibrate almost everything you want. You can even adjust the front and rear spring rates to get the kind of control you want.