SpaghettiKart
What you need: A ROM of Mario Kart 64 dumped from your own copy of the game. See the project's own page for the versions it supports.
SpaghettiKart is a native PC port of Mario Kart 64, built from the Mario Kart 64 decompilation by Harbour Masters.
It adds widescreen, higher resolutions and frame rates, a longer draw distance, an option to turn off low-detail models, custom engine classes, harder computer drivers, a track editor and mod support.
The download contains no Nintendo data. On first launch it asks for a ROM dumped from your own copy of the game.