I saw over at High Gear, that Ubisoft have announced Racing Simulation 3.
Racing Simulation 3 is made to appeal to both PC and console gamers with a mix of simulation and immersive gameplay. Racing Simulation 3 will be released during the Winter of 2002 on PC, and early 2003 for GameCube, and PlayStation2 consoles.Feel free to post your comments about this on our forums.
A brand new scenario mode on the PC version will enable gamers to experience the most intense racing moments ever. Console players are certainly not neglected though: six different game modes, ranging from the driving school to a complete championship, will offer constant single and multiplayer challenges. Players will improve their skills step by step to learn the tricks of the trade!