https://github.com/mamedev/mame/commit/c89891e4aa3746da8d3f325a6e4db5bd1468e1c8 fixes the overtake flickering. The pcm audio doesn't work though (the fm music does work if it's enabled in the menu). The walls beside the track which don't appear in XM6 seem to be in real hardware videos so AFAICT they aren't a graphic error.
You can turn the walls on / off in the config menu before you start the game, it calls them Polywall
The game seems to work pretty well, although the tunnels on the Monaco track look like the raster isn't quite working as it should, I suspect it should repeat a blank line, instead it repeats the top of the road?
doesn't impact playability, but thought it was worth pointing out.