Do you see the black screen with blue loading bar at all? Or does the application never launch?
Considering the issues this game has, exactly when it stops loading is important.

If you do see a loading bar and it gets to about here (attached: SWEP1RCR_2018-07-18_02-27-43.png) you might want to check out the solution I've posted here: Otherwise we'll need some more information about your crash, check "%localappdata%\CrashDumps" in windows explorer, if you see something like "SWEP1RCR.exe.2020.dmp" upload it so we can take a look at it.

same issue here too, and ive checked my crashdumps and there is non for the racer's exe file

I have the same problem. I try to launch from the gog shell. The screen goes black, I get the windows "timing circle" and the Pod Racer Progress Bar. It completes about 7/8 of the total bar. The screen goes black and my disk access light flashes for about 15 secs. The flashing stops for about 10 secs and flashes again for about 15 seconds. I then get returned to the desktop and the GOG interface. Any thoughts? I'd be happy to send a dump file if someone can take it apart and view it. I am running and Alienware 17R laptop with a core i7-7700HQ proc, 16GB RAM and windows 10 64 bit. My video card(s) are Intel Graphics 630 and NVIDIA GeForce GTX1070. Any thoughts or help is very much appreciated. I really enjoyed this game and thought I would be able to do so again.

First off, initial troubleshooting that might be the case:

If you have "ffdshow" (which is an audio / video codec thing typically installed with some video players) you need to go and add "SWEP1RCR.exe" to the blacklist. See ffdshow_example.png for what I'm talking about.

If that didn't work, I'd be happy to take a look, but I need a couple of things:

First open up "Global Flags (x86)", goto the "Image File" tab, type in "SWEP1RCR.exe" and press TAB.
Then check "Enable page heap", "Load image using large pages if possible", and "Stack Backtrace: (Megs)"; set the MB to 1024. See the attached file, Global_Flags_Example.png; you can uncheck all these and hit apply when you're done to revert these changes.

This will cause your crash dump to actually show where it's failing, rather than just pointing to the memory address the program started at.

Now start up the game, and let it crash to generate the two files we need.
The first is the crash dump, which you'll find here: " %localappdata%\CrashDumps " - make sure you send the one you just generated, it'll be the latest modified (obviously).
The second is just a screenshot of the Error event in Event Viewer, see Event_Viewer_Example.png for what I'm looking for.

(After you've generated these, go ahead and undo the settings in Global Flags (x86) like I mentioned.)

With these I can at least investigate the crash and see if we can't narrow things down.

In answer to your question, "yes I have tried running the executable directly.... same effect. I even tried windows compatibility settings, my own and windows recommendation. Windows recommendations (xp serivce pack 3) give even less performance. The program invokes the windows cycling icon, turns into the Pod Racer progress bar but, instead of getting 7/8 of the way before failing it makes it to 1/4 (and I am being generous here... its less) When I "remove" compatibility settings I get the effects as left in my first post. I also forced it to use the Intel Graphics proc instead of the GeForce but, to no avail. While the game is trying to boot, it looks like, it's trying to set the resolution to 640x480 but, then jumps back to my original resolution of 1920 x 1080.