Probably the send or third best multiplayer game of it's day. IE before all the crazy network team games these days. Simple to learn yet still has a significant amount of depth and learning curve for a n64 game. This definitely the melted joystick game.
Controls aside, this is my favorite Mario Kart game - I played this for hours upon hours and had plenty of fun with multiplayer as well. I didn't have near as much fun with Doubledash or the Wii version personally.