Damn, I was fearing that would be the case. Being punished for having the lead in a race from the beginning. You may as well slow down to remain in 2nd or 3rd close behind to take the win at the end while they are being bashed.
I think after the N64 version it became too much about powerful items. It wouldn't be so bad if there was only a small chance of getting something big but if you're behind, on every game since that one you seem to get all the help possible.
DS version got it right. This version has very little scope for tactics with weapons.