Yeah the original Sega GT on Dreamcast was weak, Test Drive LeMans, Ferrari 355 Challenge and Tokyo Xtreme Racer were all much better IMO.
GT3 takes waaaaaayyy to long to beat. I can't fathom spending over 4 hours doing back-back 100-lap races, it's just too much. Still GT3 is the king of all racing games, they're coming out with a special add-on for GT3 in japan that lets you drive all the exotics: Lambo Diablo, Murcielago, Countach, Vector, Mclaren F1, Pagani's, etc. Too bad no Ferrari's though because stupid EA owns the licence to those.
I still don't have a PS2, Gamecube or Xbox yet but I should have one by the holiday season, I hear XBox won't be dropping it's price but it'll come bundled with an extra controller and two best-selling games which remained to be announced. Plus, XBox will be getting the next Panzer Dragoon game (Panzer Dragoon Saga on the Saturn is still the best RPG, or game for that matter, that I've ever played.)