sure, if you want round wheels, just be sure you graph card is a couple years ahead
3d stuff really never holds the true shape of a circle, its just that the number of corners on the object is increased to make it appear more smooth and shaped like a circle. Do you know how many polies that would take? The polies are better spent somewhere else that is more noticeable IMO, like the restraints or heads of the cars. I know that my video card could easily handle it, but not many others I'm guessing.
That's why RCT was such a hit, a great game with low low system requirements. I think the same applies for NL, as the graphics are rediculously good for how low the system requirements are.