I guess my most spectacular racing... incident happened back in 2007 when I got S2.
I had been licensed for ca 10 minutes. And I went straight online. I was so excited of all the new cars and tracks, so I joined a server running UFR/XFR on KY2. I entered a UFR, with no sets or any experience, and the race started. Luckily (or unfortunately) I started from the pole, somehow. It was all good going through the first bend at full throttle. And then I was 2 wide with someone, and I obviously didn't see him. So I was kind of weaving, not holding my line and bang. If i recall it correctly, I wiped atleast 3/4 of the grid. Before T1. On a track that wide. Oops
That was exactly the reaction when that happened. oops. If I look back at it now, it isn't even embarrassing as it should have been, more of funny really. Starting my S2 career in a spectacular way.