I played this in the arcade @ Thorpe Park!
The Falcon version I didn't think was that fast compared with the original, I think if you check the Mame specs it uses a 68020? @ 10mhz thats a guess it's late!
The arcade and the sequel (below) are bouncey ? and erratic! but controllable! it's just as an arcade game ought to be!
I'd describe it as somewhere between Power Drift and Buggy Boy with as mention on some review sites MarioKart style play/gfx?
Also available on MAME is a Prototype called Road Riot Revenge! which is even more manic adds a few interesting touches!
I am intrigued to try it using Backwards or magiboot! @ 8mhz!
There was apparently an STe version in the offing ST Format did a feature, 32 colour? or 48? it was a while back!