as for obstacles, kind of, there will be boost pads, and negative boost pads and power ups to obtain along the course.
I hope that means there may be other things as well.

food will be able to be gardened and bought with golden saucer points.

at first we will only be able to breed with cpu chocos, but later we will be able to breed with other players. thats after you retire
your chocobo from racing tho.

They mentioned something about classes though and being unable to race in lower classes after your choco enters a new class.
I hope that doesnt mean you cant race friends in lower classes though, that would be a shame.