I remember, whenever I won in Chocobo Racing, the victory animation would be really fast.
Then again, it's been a while since I've been either A) far enough in the PSX version for it to be open to me (late Disc 2 and Disc 3) or B) early enough in the Steam version to have it happen at all, as my save files are all either on the 1st Continent or on the final screen you can save, with nothing left to do but grind and beat Ruby and Emerald Weapon.