Wipeout is a great game, but it has these issues because it was kind of 'hard coded' to play on the then-cutting edge (for Amigas) B/CVPPC cards, which have different video modes than what we have now. I recall there being a similar situation for the CD sound, it's not done in an entirely system friendly way. There was a thread on this a couple years ago, when I among others got it running on MorphOS and it comes down to the original developer of the port being very anti-MorphOS.
The problems it has could be fixed, but sadly they won't be
That's too bad because it is a really awesome game, even if it is unplayably fast on our Pegasi