OK I can clarify this as I've done a ton of homework on it. FWIW, I have a Hard Drivin' cockpit that was upgraded to a Race Drivin' through a ROM, CPU and shift assembly swap.
The shift assembly in a Race Drivin' uses a solenoid to "lock" the shifter in place during the game by pulling upward and pressing a rod against a spring-loaded detent mechanism inside the shifter housing. It's not literally locked, but it is much harder to move out of gear.
The shift assembly in a Hard Drivin' uses an electromagnet to lock the shifter in place by electrifying the magnet against the inside of the shift assembly housing and holding the shift rod in place. It also has a spring-loaded detent mechanism, but only to provide the feel that you're shifting into or out of gear.
Both shift assemblies use potentiometers to locate the shifter, 1 potentiometer for left/right and 1 potentiometer for up/down. I believe there is also a "stress" mechanism similar to what's on the brake pedal arm, which I think is just a mercury-based position switch, maybe, but I'm not positive. I saw it on a schematic but I haven't looked closely at mine to see if it's in there. I'm not ready to take it apart yet.
As a result of the difference in locking mechanisms, for the most part, the mechanical shift assembly parts between Race and Hard drivin' cockpit games are not interchangeable. From an electrical perspective the assemblies are very similar.
The shift board for a Race Drivin' and Hard Drivin' are identical. For cockpits that were upgraded from Hard to Race Drivin', only the shift assembly was changed, not the board. I verified this as I have a manual that came with the upgrade kit, and the shift board is not identified as a kit part nor are changes to the board required as part of the upgrade process.