One of my all time favorite games and I’m sure for other oldtimers/oldskoolers. I still got the original PS1 along with Wipeout and the memory card with my records :-) I think I’ll have to revisit it someday.
I tried Formula Fusion on Steam (made by former WipeOut devs) but it just wasn't the same. The tracks were boring and the music may as well have been non-existent.
It’s funny how uncanny-valley that was for me; I eventually narrowed it down to the camera not getting a speed increase while going over the boost pads.
I haven't played it myself but user 1ko recommends the following:
"You'll love BalisticNG, it's like playing the original with better resolution and framerate."