Here we have Equestria Racing, which appears to be some sort of ponified Superman 64 clone minus the beat 'em up sections and kryptonite fog. I do have some rather mixed-feelings about it so far, but hopefully the final product will manage to make for it by throwing in some interesting locations to fly around in and whatnot.
I've embedded some of the previous development updates below the break as well, in case you're interested in seeing those.