The N64 game blew. you could win each race in one try because the competition were so awful and always half a lap behind - yet one crash near the end and sebulba overtakes you...
Looked pretty though, for the time.
And i too really like all the extended and deleted stuff.
Now i guess the narrative and thematic points of the race were to show that anakin was a great pilot and had a strong, perhaps unique, affinity for the force, but this didn't really come over all that clearly in the film.
the real way to enjoy the race is by thinking of star wars as a bizarre hyper-wacky take on all those old movie and serial staples. this is a chariot race taken to wacky sci-fantasy levels - just as lightsabers are just swords but all sci-fi'd up and Yoda's fight in AOTC with him squaring off against dooku, whipping his cloak back, is like those old gunfighter or samurai duels but heightened to an almost hallucinatory level.
Unfortunately, Lucas also wants his films, especially the prequels, to have all that mythical underpinnings and to be taken seriously. He wants his cake and to eat it.
'this bit's serious, oh but this bit is just a bit of fun, no i'm serious again, nope i just put this bit in because i like cars. Oh, serious again!'
maybe the OT captured that balance well. the prequels do not, leaving the fanboys to flounder around trying to work out how to watch them, and everyone else to just dsmiss them as bullshit.
the pod race, if we are to take the prequels seriously, is dull and pointless.