Arcade racing is all but dead. Now, there is an excellent attempt to bring it back, and make it as popular as it was before.

According to We Make Money Not Art Floor it! is arcade car racing brought to life. It is designed for 7-10 years old kids. The radio-controlled cars sense and react to course conditions like oil slicks, turbo power-ups, water hazards, etc.
A free-floating steering wheel controls the cars. When the wheel is turned left and right the vehicle moves accordingly. Tilting the steering wheel forward and back controls the throttle and direction of the car. In place of the throttle tilt control you can use optional throttle and brake buttons.