wats the best racing game

It sort of depends. If you want something realistic, go with TOCA, if you want something more in the arcade style, go for NFS carbon. If you want something that requires the attention to the track of a realistic racer, but isn't actually realistic, try Wipeout.

If you just want hectic fast racing go for Burnout dominator.

My favorite racers are Race Driver 2006 and Colin McRae Rally 2005 (import from UK).

Colin McRae has a bug in it when it comes to steering with the analog nub. If you can get used to steering with the D-pad, the game is pretty good.