Wreckfest has the potential to become one of the greatest racing games ever in my opinion. The game is made by the same guys that made the Flatout series (excluding Flatout 3) and it's more or less a spiritual successor of these games, so if you liked Flatout, chances are that you'll love Wreckfest.
The game looks really good on high graphics settings and runs smoothly most of the time (the only FPS drop I've had was when a car with a smoking engine drove right in front of the camera at some point). I've only had it crash once in the 7.5 hours I've played and it was just while trying to start a single player race.
The driving fits in somewhere in the middle between arcade and sim racing, maybe leaning a bit more towards sim. I've been using a 360 controller when I've been playing and it's been working really well for me. I've found that I often have to correct the steering a little while turning, something I would imagine is a lot harder to do successfully with a keyboard (although I haven't tried), so a controller of some kind is probably recommended.
As the name suggests, one of the main elements in this game is crashing. I think all of the bodywork of the car can be destroyed and it probably will after you've rolled over five times after getting t-boned by a competitor that didn't bother trying to avoid your car while you were recovering from that spin. The visual destruction looks good, though maybe a bit over the top. You start wondering how you can still drive when your car is suddenly a metre shorter than it was when you started the race. Your car can take quite a lot of punishment before breaking down. In some cases you can actually keep racing (albeit not very well) even if you're missing a wheel.
Some of the tracks also features some small, steep hills along the tracks, which works really well as ramps. It's always amusing to watch the AI drivers in front of you fail to take the turn properly and launch themselves into the air before suffering the consequences of a not very clean landing. Until you arrive at the same corner and understeers terribly or receives a shunt from the guy behind you and suffer the same fate.
Cars that breaks down stays on the race track until the race is over, adding extra obstacles to the track. In longer races you'll often see piles of cars in some places.
Right now there's only five cars to choose from. Each of them comes with five liveries and some performance customisation. Hopefully there will be a lot more to choose from when the game is finished. On the bright side, the current cars feels quite different to each other, at least the ones I've tried do. The American muscle cars (there's two of them) are fast and heavy, but seems to be struggling a bit in sharp turns, while the little European coupe is both fast and handles really well, it gets pushed around easily.
There's currently nine different tracks, something I also hope will be expanded in the future. Out of these three of them are demolition derby arenas, which I'm personally not really a fan of. The six others are more or less proper race circuits. There's three basic tracks in different environments with different surfaces, one tarmac, one gravel and one sandpit (my personal favourite. All of these three also come with a reverse layout, which actually feels quite different from the normal version.
There's also an oval track, which has an alternate figure-8 version and a pure figure-8 track.
The last one is a work-in-progress sandpit circuit that comes in two slightly different layouts (plus their reverse layout). These works perfectly well, if you don't mind the missing ground textures off the track.
The only game mode at the moment is single races. All of the tracks works with up to 23 AIs with an upper limit of ten laps. The AI isn't very fast over one lap, so if you take an early lead you can expect a rather uneventful race, unless you do any major mistakes. However, if you get bogged down at the start and find yourself in the middle of the pack, you're in for a challenge. The AI likes to get in your way, so while you're fighting your way through the field, the leader will often be next to impossible to catch.
Single races against the AI is only fun for so long, so some sort of career mode would probably dot he game good.
I haven't played multiplayer a lot yet, but I've certainly enjoyed it. A multiplayer game has to be hosted by the players, ideally by someone who has a good internet connection (8 Mbps upload is recommended according to the Create Game window in game). Multiplayer supports up to 24 players and I have to say, the more the merrier. Having 24 cars on the oval track (which appears to be the most popular online by far) is guaranteed to be a mess. There seems to usually be at least one or two who just tries their best to crash into people to ruin their race, but they're nowhere near as annoying as they were on GRID, mostly because the cars in Wreckfest are a lot more durable. I've had some good racing online, including a battle with another guy that lasted for nearly three laps and at some point I also got two takedowns in a race, despite trying my best to avoid any collissions.
The game itself is great and I recommend trying it out if you like games like Flatout or the demolition derby races in GRID. Just keep in mind that the game isn't finished yet and because of that it feels a little light on content.