Track mania hasn't always been on steam so I have many more hours than displayed.
As far as arcade racing goes, the Track mania series from Mania Planet is very fun. Jumps, wall rides, loops, drifting, high speeds, no complaints,
I can use a keyboard to race but prefer a controller for the joystick's sensitivity etc.
Both the single player and multiplayer modes are very fun. Like other games, there can be less or more players online during certain times of day. The mutliplayer community is definitely active however.
There are plenty of offline maps for single player with varying difficulties to complete for medals. The single player maps in order also can help develop skill. Playing online, the maps can be endless since new maps are continually introduced and cycled. Maps can vary a great deal, from simple to very technical (fractions of seconds count) but very fun. Ranking is tracked and displayed for single and multiplayer, locally and globally.
It also has a level editor to create your own maps.
I use the steam workshop for car skins and downloadable maps, a lot of decent content.http://maniaplanet.wikia.com/wiki/TrackMania_(series)