We had the promise of a WipEout-style game in the past, but that never seemed to materialize. As sad at that makes us all, we now have something that looks equally as good: Flashout 3D. At first blush, Flashout actually reminds me quite a bit of Riptide GP, as well as F-Zero, with the addition of weapons. Because blowing stuff up is fun.
The similarities really end there between those two, though. Flashout is a pure hovercraft racing game at its core, with intense graphics, fast gameplay, and the other stuff that makes hover-racers fun. It also support controllers, but there's a catch (or two): it's only for ZeeMote, and the controller-compatible version is a separate app.