Wipeout 64 provides exactly the same weapons as Wipeout 2097 - down to the fact that craft fire three rockets at a time, and missiles can rear-lock - using the same symbols to represent them. The exception being the Plasma Bolt which is incorporated into a new scheme of craft-specific Super Weapons (it becomes the Energy Sphere, exclusive to Auricom). These introduced devices such as cloaks and energy drains are later made fully available in Wipeout 3. Available in this Wipeout version is an unlockable weapon power-up called the "Cyclone". This power-up strengthens your weapons. There is also the inclusion of an elimination counter that gauges how many opponents were eliminated in a race by the player. This is what paved the way for the Eliminator mode introduced in Wipeout 3.
Most of the tracks in Wipeout 64 feature mirrored layouts of circuits from select tracks in Wipeout and Wipeout 2097, set in different locations. Some conversions are not perfectly accurate, as some corners were eased or cut entirely, elevations were changed, and there were no split track sections. The only truly original circuit is the hidden Velocitar track, obtained by completing all 6 Race Challenges.
Wipeout 64 is one of the few N64 titles to have noticeable load times, disguised by the request 'Please Wait'. Load times are approximately 3-4 seconds long, and as read in an IGN Review of the game: "In case you're wondering why there is load-time in between levels: according to Psygnosis, the short break is needed for sound decompression."
Source: Wikipedia, "Wipeout 64", available under the CC-BY-SA License.