CHASE - This cheat makes the opponents chase you as long as you are in front. You can make them jump, fly, crash etc.
HOLLYWOOD - Bonus track.
KCJONES - You drive a rainbow colored car. (3Dfx only)
MAD - Instead of dust flying behind your wheels, cows start flying! (3Dfx only)
PIONEER - You get pioneer engines.
RAIN - Enables rainy weather. (Mystic Peaks and Pioneer Proving Grounds only)
REXHOUR - All T-REX. 
ROADRAGE - When you honk, all the cars in front of you will crash, opponents too!
RUSHHOUR - More traffic.
SCHOOLZONE - Same as above, but instead of limos, you get buses.
SILSPD - Type as your name when you receive a record to make your car heavier. 
SLIP - Makes the track slippery.
SLOT - This enables the computer to drive for you. 
VIP - All traffic will be limos, including you.

FZR2000 - FZR2000 (duh!)
TOMBSTONE - Daytona Tombstone Racer
BOMBER - Bomber BFS

GO18 - School Bus
"19 - Commanche Pickup Truck
"21 - Semi    
"23 - Audi Quattro
"27 - VW Fastback
"31 - Army Truck
"34 - Monolithic Studios Tour Bus
"35 - Limo
"36 - Mazda Miata
"39 - Supercharged bus
"40 - Wooden Crate
"41 - Wooden Cart
"42 - Wooden Stand
"43 - T-REX
"44 - Wooden Trailer
"45 - S.Stand 1
"46 - "2
"47 - "3
"48 - Log
"49 - Steel Crate
"50 - Box of Beer
"51 - Big Block of Stone

9 Camera Views:
During the black screen after loading press and hold c, b and RIGHT SHIFT 6 times. Then after the camera zooms to the car at the beginning of the race press and hold these keys 6 times again. You will now be able to drive in 9 different camera views.

Night Racing:
Hold N while the game is loading to race in the dark.

Thanks to Revolution readers Eduardo Gutierrez C., Roushman, cRaCkhEaD, Tom, Dwayne, Steven Wells, Timothy Lee, Tony A., Chris, and Suspect1!