Does exactly what is says on the tin, a compilation of all the races during the first 3 seasons of Initial D.
The earlier races in the season have benefitted from advances made in CGI and have been rerendered and look better then ever.
Theres also a nice (albeit short) race that was not featured in the anime but was in the manga, Keisuke vs Seiji.
Theres no story to speak off, basically it announces the 2 drivers and then shows the battle, then onto the next battle and so on.