In college, I remember staying up late every night with my roommates playing Super Mario Kart (NBA Jam and Street Fighter too) on SNES. Just a few weekends ago, I hooked up my SNES again and played SMK, and man, what a difference. I thought SMK had great playability back in the day but compared to the latest release, it's come a long way. Obviously the online feature wasn't available, but I think that's a great feature with the current game. It serves as really fun entertainment when family and friends come over. Well worth the $50 or so price tag.
Paul, let me know when you and Fred play next. We'll try to catch you online.