Arazi was a much better racehorse than he's been as a sire. He's been a bit of a gypsy as a stud, standing in England, Kentucky, Japan, Switzerland and Australia off the top of my head. Hard to say whether he's really been a failure (outside of his best son, Congaree) or if the farms where he stood were too quick to move him and not give him much of a chance.
As a racehorse, he was the champion 2yr old in both Europe and the USA. He gained that in the US after his smashing win the Breeder's Cup Juvenile in 1991. He raced mainly on the turf, but he obviously could handle the dirt

Seemed to prefer a mile or less most of the time...
So far at stud, he's sired approx. 15 stakes winners, with Congaree being the only Grade/Group 1 winner. Arazi is also a 3/4 brother to the good Noverre (Arazi being by Blushing Groom, Noverre by Blushing Groom's son Rahy).
You can see a pic of Arazi here, though it's almost a decade old as it was taken at Three Chimneys in Ky around 1997. There is also a nice video of him in Oz. on the page. He still looks great and has a lot of spunk to him
http://www.stallions.com.au/list/arazi.asp#bottom
I'm sure you'll get some more useful info. from some of the others, but that's a start for you.