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I think it is a good name. I have noticed that more and more TV commericals have numbers included in the their names theses days. Now that all the short .com's are pretty much history, I guess if you want a .com that relates to what you are selling, they are adding numbers.
I, too, would think something to do with racing, although it's reversed in this domain. "1" can also increase your search results, as well. It's workable, once you find a niche or target, but likely low valuation as a stand-alone domain name. Good Luck.