Ok, not a bad game, heres my c+c

Graphics - overall pretty good, could be improved, but they are fine really, i like the different environments and scenery bits

Gameplay - a couple of points to make here. 1) the player shouldnt get the feeling that the edges of the road are made from rubber :P, the collision isnt bad, but the reaction could use a little work. 2) there should be collision between the cars. 3) drive backwards a little way and then drive forwards across the start line and it increases a lap. I can see you are using check points, but you need to have more than one (or have 1 exactly half way through the track).

Sound - the only sound i could find was on the menu, so you might wanna add some more

Overall - Really not bad, and for a first game its pretty good, just fix those points above, and add a 1 player mode and you have yourself a great game .

Keep up the flashing

Ali