I agree with Mike. Also, if you are going to street race, you should at least have the good sense to take it out of town, away from other cars and potetial innocent victims.
The people that race on city streets or in residential areas are just asking for trouble. The only places that I have ever street raced was on rural roads with no cross roads or driveway access anywhere in the course or shut down area.
If something tragic were to happen, the only possible victims would be myself and the other driver. Both of us know the risks and have made the decicion to break the law and take those risks.
In the case you are talking about, The victims were innocent bystanders that just happened to be in the wrong place at the wrong time. If they were my family members, I would want the driver that hit them to get whatever the max penalty could be.