Well, I've managed to get the game running by arranging the files in the manner detailed in the attached image (differences include removal of unnecessary files and placement of WRF.DAT & WRF.GOG files into new folder, tracks.cdmedia, under new names), but I've run into a few problems.
First, the "SPLIT" logo and intro cinematic do not appear when starting up the game.
Second, with some exceptions, I have heard no sound effects while playing.
Other than that, the game seems to run just fine, though I'd advise turning off rotation to avoid graphic-induced vomiting (it doesn't look quite right). If anyone knows how to turn on sound effects and/or fix the intro, please post here.
EDIT: Apparently the issues with the logo and opening can be solved simply by launching the game in fullscreen. Still need to fix sound issues.
Hey!, im playing it on Windows, i made a pair of discoveries that might help you.
1.-When i first start the game the opening movie, and even the "gameplay demostration" videos won´t play, they simply cut off, BUT after i play a cup (and win or lose it) and the game reboots to the main screen, the intro video and gameplay demos will play!.
2.-If you can hear the sound (a clip) when selecting menus on the main screen, then the sound FX are playing well, there aren´t character voices that feedback hits when racing.
What a game ah? it took me some time to understand the "rail" mechanics.