Great 3D
I've seen a few 3d Flash games (even had a go at making one, sort of) but this acheived the effect better than most. I wouldn't have a clue where to start making something like this.
Graphically it was exellent, the level of detail on the cars and tracks was incredible. The sound wasn't too exciting but it did the job.
The game itself is fun, but doesn't control very well. I think it'd be better if it didn't try to be realistic but went for a Micro Machines style, then the slippy controls wouldn't matter so much.
Just two tracks is a let down of the game. I don't know how long a track takes to make, but if its a long time then you should try and make a faster level editor so you can quickly create a large selection of tracks. A more varied choice of cars would be nice too.
I'd highly recommend this to anyone for a quick play, but it doesn't have enough to make me want to come back for more, and that's what lets it down. But this gets a 5/5 on style alone. Nice work.