I ragequit for the very first time a few weeks ago in Mario Kart Wii. I was playing online, and one of my favorite courses got picked (N64 Mario Raceway). I was doing pretty well for the first two laps, but it didn't last and I got booted to third in a five man race.
Well, on the third lap, we were coming up on the final set of item boxes, and I figured I could at least get second with a good item and not lose too much VR. I got passed up by the guys in 4th and 5th just before I hit the boxes, so I had to get a good item, right? Certainly if it's not something like a star or a bullet bill, it's gotta still be useful, right?
WRONG! Needless to say, I lost. Badly. Got so pissed that I shut the console off and didn't touch the game until yesterday. Funny thing is, I think I lost more VR from dropping out than I would have if I'd just sucked it up and took the loss with dignity.