I saw my friend's dad play this game in the mid 90's. I'm pretty sure it was before 1998. It had a futuristic setting like WipeOut or F-Zero, ships included. The graphics were primitive 3D, around Playstation or maybe 3DO. The tracks were linear - they started at one point and ended a long way down the road. It was time based, like many arcade racers. If time ran out, you could put a quarter in and continue from the last checkpoint. Also, I don't remember there being any opponents (either that or my friend's dad was playing horribly).