To me, Ridge Racers would have been a god-send about 5 years ago. It had awesome presentation and was a really slick arcade racer. Unfortunately I have grown used to playing arcade racers that offer more these days. Something with cop chases, traffic, or visual enhancements to trick out a car.
Midnight Club 3 does all of this for me, and is a very awesome game. Burnout would fit the bill as well. I didn't dislike my time with RR, it just didn't fill the niche for me like the other mentioned games most likely will.