On an actual race track through? That vid has the car driving through some cones, that are quite tightly placed, on a track with 3-4 car lenths width, and thus different ways of taking corners and racing lines I think it would be quite slow, unless you preprogrammed it :X.

Edit: WTF is with the music in that vid?

I'm just merely showing what is/can be done. Anyways, the game should already know the dimensions of the track.