lol
I've been called out!
Ranked:
Outrun 2/ 2SP
Daytona/Super GT
Ridge Racer V
Cruis'n World/USA
Initial D
Rave Racer
Here's the deal. I am obviously biased toward Sega racers. I feel they are the premiere games in the genre. However, that is not to say that I don't appreciate the Namco games. One game I own which is not on your list is Wangan Midnight. It runs on the same hardware as RRV and is a really great game. It was the original "battle racer" (Initial D followed two years later) and it offers great linked play.
As for Initial D, I ranked it so low simply because I haven't played it that much, and I just really don't care for it. Others may disagree.
At the top of the list is Outrun 2. Either version is stellar. It is, by far, the best late model racer. Period. It is also very pricey.
At the second tier, is Daytona/SGT. I put these at a tie simply because they are both great. It is simply a matter of taste between the two. Unless, of course, you run across a Super Gt Plus, at which point I would say it's better that Daytona. Also, you should include Daytona 2 Power Edition on your list. It would rank in the top three, possibly above Daytona and SGT.
RRV and the Cruis'ns are great games, but you really need to have an appreciation for the over the top physics and gameplay to really consider buying either one. I, personally love Cruis'n USA, but I have plenty of other options to play, too. I don't know if it is a strong enough game to stand as the sole racer in a gameroom. again, it all comes down to your taste.
Rave Racer I can't comment too much on as I've only played it a few times.
Hope that helps...