Colin McRae 2

I never got the joy of playing the first Colin McRae Rally, I only played a demo which was enough to convince me that it was a brilliant game. Now when the sequel came out, I jumped at the chance to buy it. Straight out and bought, and I haven't regretted it. This is a super game, the range of options is really good, from Arcade, to the more realistic Rally mode. There is even a Challenge mode where u and up to seven (8 in total) people can battle it out. Now for more detail about it:

Championship
As you've guessed this is the usual most realistic part of the game. As you play through it you can access more cars and cheats for the game. If you like proper rallying then this is the format for you. The game is very smooth in single player but not so good with two players at once. The two player alternate mode is far better if you want a two player rally.

Challenge
I play the challenge mode most of the time when I want a multiplayer game. It is basically a knockout round based game. You can have you and up to seven others (some can be computer controlled if you don't have seven other people to play it with). In two player the game isn't as smooth as in one player, but it is enjoyable.

Arcade
The Arcade game is as good of a place as any to start off playing this game, it is also the best at two player games. As you progress though the arcade version, you unlock some cheats and cars. One of the cheats, the fireball cheat, is great fun in two player mode, but against computer players you just be permanently flying, seriously.

You really need to buy and play this game, it's just super. One of the best driving games out there (behind Gran Turismo 2). Then you need to complete it to see all the extras this game has to be unlocked.