Remember GPL? They kept hotlapping and WR's alive by having a site where your best laptimes for the different tracks were compared, for each of the 7 car types, against what was considered the 'pro-standard'. The aim was to get within about 7% of the pro-time on each car for each circuit. Your score was a combination of your accumulated laptimes for each car and track. This was then put into a table with a load of other players who participated in the handicap system. The goal was to get down to zero or negative overall, which was, for me, very tough. GPL was never so easy and active as LFS for online racing so this offline league played more of a strong role in the community and it worked well. You could download benchmark laps and WR laps to see how the aliens did it. Someone devised a clever spreadsheet where you entered your best laptimes for each track and car then it would show you which car you needed to 'learn' better and which track you were slowest on overall to have the best chance of improving your overall handicap.
For me, it was a great idea, personal targets to try to get within 7% of the pros, then 5% and 3%, at least on a couple of my preferred car types.
Maybe the LFS community has the space for a similar system, we should get the devs to lay down their laptime benchmarks for all the tracks and car combinations and complement the online race leagues with a bit of offline skill development.