best fighting game is Soul Calibur , closely followed by tekken 5. If you dont like this type of fighter then go for SNK vs CAPCOM. As for racing games Gran Turismo, Need for speed carbon, and of course Burnout Revenge(which would have to be the most fun for multiplayer)
Fighting - Guilty Gear XX, Soul Caliber 2+3, Melty Blood (this is Japan only so you will have to import it, you won't be disappointed though, trust me)
Racing - GT4
Edit: woops put GT3 in there for racing when I ment GT4. It's been fixed now :)
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