Captain Falcon vs. the lords of all creation. FALCON WINS.
Beating a staff ghost. Especially in AX, where the staff ghosts are all nuts-hard and beating one gets you a physical stamp on your card.
For older fans, Red Canyon II in the SNES original can be this. It's a high speed track with the longest (double!) jump in the game as an optional shortcut, and when the game came out in the early 90s, it was just about the greatest feeling of speed a video game had produced up to that point. Keep in mind, most 16-bit era racers didn't even have hills, much less wild loops like 3D F-Zero games.
The character videos from GX show off some of the racers' better traits:
Mrs. Arrow actually gets full marks in the bodybuilding competition, the only contestant to do so.
Digi-Boy outwits another driver who plows into him. After goading him into chasing him, he suddenly stops and lets him blow by...where he's promptly given a speeding ticket by Phoenix. He waves at him as he drives off. Even the lyrics from his theme sync up perfectly: "If there's another way for you to break down, it's just to let you go first and make a mistake"
To clarify, Captain Falcon is flying at universe-sundering speeds head on towards the Big Bad, Black Shadow. He sacrifices himself by popping the cockpit and using the momentum to unleash his memetic punch... And the force destroys 1/8 of the galaxy.
It was at that precise moment that Captain Falcon was forever immortalized as one of the most badass video game characters of all time.