I personally think that the young "hoons" as you call them should be restricted to small engined cars with a high insurance policy, which reduces with every good year of driving, ie. "no claims"
Why should a new driver be allowed to drive such powerful cars with no experience ??
In my youth and a need for speed I did it on a race circuit or go karting, as a member of a car club we did an exercise with the local police, advanced driving.
I also think that Australian roads aren't really built for speed, I can recall zipping along at 140+mph in england

but I wouldn't dare do it over here
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