Something I was thinking of was this: How about we have space racing circuits (yes, plural)? I don't think it would be
too difficult to modify the space sim aspect to change how weapons are done and to add race-style controls and equipment.
I was thinking we'd have two arenas of racing: Space, and planetside. In space, you have to fly your ship through a area of space (I remember one particular one that was done on
Star Trek: Voyager in this manner). Naturally, you don't have to be concerned with gravity (in general, though that would make for a very interesting obstacle...
).
Planetside, on the other hand, has you running through a circuit on the ground. We could either have floating (a la F-Zero) or ground-bound (read: wheeled) vehicles, but either way the drivers have to follow a set terrain-based circuit.
Additionally, I can see two styles of racing - stock ships and modded ships. With stock ships, you simply take a ship straight out of a qualified vendor's lot and race with it - you can't change out a single component (except to replace a damaged one, and then only with the exact same component). This emphasizes piloting skill, and leaves the mechanics largely out of it.
Modded ships, however, allow you to modify your ship with whatever components you want. Want a larger engine? Buy it and strap it in. Want to have better shields? Stick it in there. This adds the extra mechanical aspect of it to the racing - you have to know what you're doing (both personally and stat / skill-wise), and you have to be able to get the better set of parts. Naturally, there shouldn't be one set of end-all parts - different manufacturers have different specs for their parts, so it boils down to taste and particular skill leanings.
In either case, we should have brackets set up, likely based on skill (number of wins) and / or ship capabilities (price of components would likely be a good standard). We could of course have free races, where anybody is welcome to compete, regardless of skill and ship price. However, to ensure that newbies don't always get beat out, they should race against others with similar skills and capabilities, so the race is more fair.
We could also have a lot of fun with this, I think - have it be a spectator sport, where people can buy tickets to see the race in person. Further, we could allow betting on different racers (though we would have to realize the potential for people losing on purpose... perhaps that could be part of racing on the outer edges of the galaxy).
Naturally, the racers themselves get compensated for their wins - either in cash (based on a purse or on the bets placed on them [ref to Star Wars; Knights of the Old Repubilc]), or in parts for their ship (only in modded races, of course).
As far as the circuits themselves, I envision several that could stretch throughout the galaxy, including several planets that are controlled by either the Terrans or the League; in fact, the circuit would likely have several stops from both sides. If you have enough money, you could buy / build racing stadiums and get it on one of the circuits. You could even outright start your own circuit with several other stadium owners.
Anyways, was thinking that over, and decided to get my ideas in a post. What do y'all think?
~Brian