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I live in japan right now and I play this regularly in the arcades. I don't know how the home version fares, but I will say this: this game OWNS arcade style PvP racing.

drifter
u dont even know how much I play this game

im addicted..
i finally tried to play this game at the arcade n found out it is the best drifting game ever made....similarly with the real life drifting.u can simply improve ur skill in this game by watching more n more drift video and spectators cant even believe that im 16th who actually doesnt have car license at all and is able to dirft like a pro

favorite arcade racer at the moment
excellent handling with the pad,
good AI,
gorgeous to look at,
really good music ^^

can't recommend it enough,
only downsides are:
really ugly versus mode (squashed screen),
no online mode outside of japan.

but the game is so good it stands well even with arcade mode alone

one of my favorites arcade racers
highly recommended

handling is *fantastic* with the pad,
no need for a steering wheel ;)

beware, no battle gear mode with unlockables in asia version, just arcade mode.