Bad Export for You: The international English version is still a really fun game when it comes to the gameplay, but the story went from being very complex and developed in the Japanese release, to an Excuse Plot in the English version. There's a fan translation project in the works, so this should be rectified... eventually. Assuming you don't mind using an emulator to play, of course.
Visual Effects of Awesome: Along with another Namco game released at the same time, Ridge Racer Type 4, Electrosphere's graphics are regarded by many to be the best for a (non pre-rendered) game on the PlayStation, pushing the system to its absolute limit with very detailed textures, high polygon counts, realistic lighting, and far draw distances. If it had anti aliasing and texture filtering, it could've passed off as an early Sega Dreamcast or PlayStation 2 game. Like Factor 5 with the Nintendo 64, Namco was the company that put the PlayStation's graphics chip to its best use.