This is the game that got me through medical school.  I still play from time to time and definately when old friends get together.  The physics is fantastic.  The strategy is to maximize your inertia.  Turbo on long straightaways.  Turn as little as possible.  Of course you do have to turn quite a bit.  Once you have won the season you get to do stunt races, where certain stunts recharge your boost.  After mastering the game it is still fun to try and race for times (whole course under 30 min is good) or race against a friend.  The sequal JM # 3 is also great, JM #2 I was never crzy about but it looks cool for ps1 graphics.