I remember the arcade version more fondly, but I also played a little bit of the Dreamcast version of Sega's classic racer. Apparently they were a bit different, but it doesn't matter.
It was a great arcade racing at it's finest. I loved linking-up with friends in the arcade itself.
One of the pizza places around here still has a Daytona USA arcade mahcine, and I still visit it every now and then. Haven't played the Dreamcast version in ages though.