Almost everything unlocked...
- All races won including the extra 4 races and all gold medal
- All Music tracks unlocked including the extra 4 tracks and all Rank S (except 3 of the extra songs)
-Everything Unlocked (except Ocean and Binary Modes)
P.S. You can unlock the extra 2 modes if you have a save file of the Wiiware game Let's Catch (PAL)