I tried it on Anulpha Reverse at Phantom speed. It was, as leungbok said, very difficult. I didn't even get close and if I hadn't seen a video I would have said it was impossible. If it's anything like as difficult at Venom speed on Anulpha then it really won't make Zico any easier whatsoever.

I still see it as an exploit too but when I consider how hard it is in this case and also that I don't have to keep redoing laps to get the boost back (to use at the start of the next one), I think now that perhaps the exploit is a fair trade for the new feature.

The fact that you can hit select more than once in a lap does now make me wonder if this kind of thing was actually expected/encouraged when it was implimented. Or maybe it's just so we can get around the track as quickly as possible on void laps. Who knows?