1. Oh man, this piece is dieing for nat sound. We need to hear the sounds from the track. Tires screeching, engines reving, etc.,. The images let the audience see what is going on, but hearing the sounds is what brings it home and makes it feel real.
2. It's personal preference but I would've enjoyed a more aggressive sound track. Something that gets the blood pumping and makes we want to hop in my car and drive to the nearest course.
2a. The video needed to be cut to the music more. That's not to say that there should be an edit on every down beat, but the video and audio do need to compliment each other. There is rhythm and beat present in editing images just as there is rhythm and beat present in music. The hard part is finding and creating that rhythm in the images that you see. The audio and video are like dance partners. They don't need to be doing the exact same thing, but their moves do need to compliment each other.
3. Too many interior shots, IMO. The inside shots aren't as thrilling as the wide shots or "roof cam" shots because it's a more limited view so it's harder to see what's happening. The interior shots could be used to accent the wider stuff. So, for example, show a wide shot of a car spinning out then cut to interior shot of the car spinning then go back to the wide shot. The wide shot lets us see, lets us understand, what's going on and the close up (the interior shot) lets us experience it. The wide shot is for context and the close up is for feeling/emotion. (if that makes sense).
It looks like you've got some good source material there. I really liked at the end how you dropped the music out and we hear the guy swear as he's having trouble w/the car, and the opening credits where we heard the engine rumbling.
Lethal