GBikes by Unchained Developers is a futuristic racing game that recently hit the Android Market. It features fast-paced, high adrenaline gameplay, along with some pretty stunning graphics. In terms of relativity, think Wipeout. This game is dangerously similar to the entire Wipeout series, but fortunately it is well-made and worth playing. There is, however, definitely room for improvement.
If you're looking for deep gameplay, this game simply does not have it, but that really isn't what titles like these aim for.