Bears 50 on the pennants on either side of the "Fastest Lap" banner. I assume that the Bears here is the Chicago Bears football team, but what is the 50 for?
Go Bears - another Chicago Bears reference most likely. There are a few other Go Bears signs in the game as well. Was Tony a Bears fan? Also a "Freres" pennant on the banner, which I assume is a reference to Greg Freres?
A "Faris" pennant on the banner. I assume this is a reference to Paul Faris?
Who is Mario?
It looks like the text on the orange box, just below the girls on the beach towel, says "Bibite Caselu". What is this?
Maccagnani - The mechanical designer, according to the playfield credits.
Who is "Alberto Fenomeno" here?
Scardovi - The game programmer, according to the playfield credits.
What is "CALO FG" here?
Ferrari - The playfield credits say "Hardware/Software Support".
Blackwater 100 - This is a reference to one of the games he worked on for Bally. It is also noted in the IPDB as being Bally's last game before being bought by Williams. Is there some other special significance here? Or did the Blackwater bit just fit well with the theme of the game?
"The Buz Man" - is this a reference to "Buz" Kilmer, the Chicago radio disk jockey that used to do the morning show on WLUP (aka "The Loop") along with Jonathan Brandmeyer?
What is "T's and A's"?
What are "Wassonn!" and "MAX" here?
I believe that the "Jonny B" here is a reference to Jonathan Brandmeyer, and that "Loop FM" is the WLUP radio station in Chicago. Was Tony a fan of Jonathan Brandmeyer, Buz Kilmer, and The Loop?
Tony - On the motorcycle. I assume that this is a self-reference here?
Barb - I believe that this is a reference to his wife.
Donna - Who is Donna? A daughter? Friend?
Didn't somebody notice the "Tits and Ass" pennant on this sign and object?