not great but not awful...
I remember quite liking Wipeout64. I recall actually being somewhat impressed with it when I first bought it. I was always into the 'tech specs' of game consoles so I assumed that a cart version of Wipeout would be just terrible. After all, we're talking about a cartridge that can hold, at most, just under 1/10th what a CD-ROM could hold at the time. Then I saw just how much 'Wipeout' Psygnosis managed to cram into that little cart and was fairly blown away.
True, there were a lot of sacrifices, and I could understand polygon count and texture resolution being compromises... but it was strange that the controls seemed a little... off. I adjusted to them, and maybe it was just that a N64 controller responded differently than a PS controller, but I found the controls and slightly tweaked physics frustrating.
I think I was just glad that any Wipeout game was out there... it brought the Wipeout name to a possibly new audience and kept the name out there until the next one came out.
It was nice having almost no load time...:)