People hype the McLaren F1 up so much because of its fame in the so-called "Guinness World Record" during the late 1990s. They actually don't seem to realize that the 243mph record car was an XP5 prototype modified to match the power rating of an LM or higher with the mirrors removed.
(It's just as exaggerating to claim a stock F1 can reach 243 as it is to claim that a Ferrari 458 Italia can do a 10.9-second quarter-mile time at over 130 mph, or to claim that the earth is flat for that matter.)
NONE of the customer-owned bone-stock F1s (except for the LM course) are ANY faster than the Bugatti EB110SS or Jaguar XJ220. It will only hold its own until around 150mph due to its lighter weight and closer ratios between gears 1 and 5. In the real-world, the F1 is no hero. It's fast, it's very fast, but not the fastest.
The Jaguar XJ220S and Ferrari F50 GT both are the equivalents to the McLaren F1 LM and F1 GT. I don't know if Bugatti had an equivalent.