Well the races can be explained quite easily.
#1: This is the only race where the Mustang slowed to less than 45. The s2000 was able to start in 1st gear as it was ran from 35-up. The s2000 pulled strong in first and continued to pull in second and held all the way through 3rd.
#2: Race starts at ~45. S2000 gets jump due to being in 2nd. At 65 the s2000 has to shift to 3rd, while the stang is still in 2nd. The s2000 is able to hold off the stang till shifting into 4th, where the stang has a huge gearing advantage still being in third. This is where the video ends. If the run was completed, you would have seen the S2000 pull back due to the gearing then being in it's favor.
#3: Starts again at ~45. S2000 pulls in 2nd again then the mustang misshifts into 3rd. Race over.
#4: Race starts at 55?! Mustang wouldn't slow past that

. The s2000 starts in 2nd, and at 65 then has to shift. Very small lead is taken by the s2k. Once in thrid the Steeda has a slight advantage due to still being in 2nd. He stops the s2000 from pulling anymore. The two are even with the s2000 still being out in front. Now the s2000 has to shift to 4th. The steeda pulls back due to the gearing advantage at that point and begins to pass the s2k. The Steeda then shifts into 4th at the very end of the video, and you can tell the S2000 was stopping the pull the steeda had started. If the race had continued to ~140, the S2000 would have re-taken the mustang due to the very large gearing advantage at that point.
Now to clear up a few things.
#1: S2000 and steeda both have 2 passengers. Steeda passenger being ~160 and s2000 passenger ~110. The S2000 has a full take of gas, the steeda has empty. Weight is even.
#2: This steeda pulls harder than a stock GT. I don't know why but i have seen the s2000 beat stock gt's inbetween 3-4 times.
#3: When it is all said and done, the S2000 has still traped 3mph faster and ran .3 seconds faster. The S2000 is the faster car.
#4: MOST IMPORTANT. The S2000 and This steeda are very evenly matched from a roll. The determining factor of the winner is the speed at which the race ends. Both drivers believe this to be true.