You might as well go for the Japanese version over the US, you'll have no problems with the menus if you've played the PAL GT3 and you'll be able to win the Diablo normally instead of hacking it out.
Also the Japanese version has the same soundtrack, menu layout as the Pal version. Although it has Drivers aids in alll the TT's but easier times to beat them. And you also get less initial cash at the start of the game than you do in the Pal verison 15,000 instead of 18,000.
The old 80's turbo F1's are awesome, because they don't drive like their on rails unlike the ones in the Pal version. You have to put some effort into driving them.