There seems to be a wave of retro racers around recently, and each one seems to pick a particular target to shoot with its nostalgia gun, whether Wipeout or Lotus or Micro Machines or whatever else.
Maybe I'm forgetting some classic arcade racer, but Victory Heat Rally feels less laser targeted and more a modern take on the spirit of the genre. It's a 2.5D, "neo super scaler" arcade racer with split screen, drifting, car tuning and a lot of pep.