Multiplayer without using a dedicated server

[ProdigyXP]

I know that dedicated servers are always the ideal way of playing multiplayer racing games. That said, how is this game when it comes to hosting a small number of players right off of one of the players PCs? I see the option exists, but don't know if that is still meant for someone with an uncommonly fast internet connection. I know there are a lot of variables (host's bandwidth, etc), but I am just curious if it is even viable to try and host a 3-4 player race off of a "typical" cable modem connection. I plan on trying to coax some friends into buying this game (I love it), but I know the quality of multiplayer is really going to be key with them.

Thanks for anything insight.