VP was one of the first games I played on my Dreamcast when I got one around 2012(?). It was included in the small set of games I bought with the used unit. A little later I upgraded to a USB GDROM and a while a go I replaced the annoyingly loud fan unit with a brand new noctua fan despite not playing all that much anymore. I've seen and tried virtually every game for the DC there is and VP is still one of my favourite games on the DC. Wether the physics engine is realistic or not is debatable but at the very least all the cars have distinct characteristics and give you the impression that you're feeling the car and it's not arbitrary or ridiculous.The super-solid 60 hz framerate along with the perfect no popup level design are an adrenaline guarantee for the first rounds everytime I play. If it only had more than the dozen or so of tracks, I would likely still play it all the time.
MSR has, for sure, more variation, creativity in its gameplay and overall a great vibe to it but the visibility is distinctly harder on my eyes. In VP you can really look at the vanishing point and see where you have to go. MSR has more rough pixels and I find it really hard to see things in the distance. The graphics in MSR have some really heavy aliasing effect. I assume it's in part because they're craming too much detail into a resolution not fit for it.
It's a pity VP doesn't at least offer different day times and weather conditions like many other racing games.