Raggedstar said:
That would be Jak X (though Ratchet is in it as a bonus character, so you were close). I agree that it should be ported since the PS2 original I hear had a really nasty bug that was never fixed. Ratchet's spin-off at the time was Deadlocked, and while it was ported, it was a real shoddy job. The frame rate...oh geeze the frame rate.
EDIT: You could also be thinking of Crash Team Racing too, which is a bit more Mario Kart-like. Though that was late PS1 as opposed to PS2.
Jak X is the one, I remember it now, thankyou! Never got to try out Deadlocked, at the time, even Jak X was a cheap lucky buy as I was expecting something like the Crash team racing you mentioned. Was pleasantly impressed to say the least. Kinda unfortunate that it's a NaughtyDog property, so it may be left to obscurity. Though aren't they HDing the Jak and Dexter collection? I must investigate...