Next-generation intelligent transportation systems require both sensing and communication between road users. However, deploying separate radars and communication devices involves the allocation of individual frequency bands and hardware platforms. Integrated sensing and communication (ISAC) offers a robust solution to the challenges of spectral congestion by utilizing a shared waveform, hardware, and spectrum for both localization of mobile users and communication. Various waveforms, including phase-modulated continuous waves (PMCW) and frequency-modulated continuous waves (FMCW), have been explored for target localization using traditional radar. On the other hand, new protocols such as the IEEE 802.11ad have been proposed to support wideband communication between vehicles. This paper compares both traditional radar and communication candidate waveforms for ISAC to detect single-point and extended targets. We show that the response of FMCW to mobile targets is poorer than that of PMCW. However, the IEEE 802.11ad radar outperforms PMCW radar and FMCW radar. Additionally, the radar signal processing algorithms are implemented on Zynq system-on-chip through hardware-software co-design and fixed-point analysis to evaluate their computational complexity in real-world implementations.