Same here, but I got around finishing WO1 after wrapping my head around the different game mechanics. In fact, I believe getting through all the WipEout tournaments doesn't take much longer than it does in 2097/XL. It's just a little harder and there's fewer classes and races, so you keep spending more time on one event, which might make it a bit more frustrating.
Absolutely! That was merely an exaggeration. But it's much more of complete stop than it is in any other installation.
Ben