Thx Gizmo great information always wanted to clear that up! I have another question to this same discussion does either of these modes affect anything with the rear ended as in posi traction or anti slip traction and what do you personally run in when running on the track! Also if your in manual shift mode will it down shift/up shift to protect the trans?
The answer to the first part (posi traction) is no, but....
Traction control and stabilitrack cannot be completely disabled in these cars while driving (there is a way for your mechanic to do it, but I won't get into that). Performance mode loosens up the "nannies" a bit, but if you do get way outta control stabilitrack will intercede. I have drifted the car and could feel the stabilitrack coming in and out. Shocked me the first time cause I was all in with full opposite lock and the car started braking the inside brakes to straighten out and I was fighting it.
Keep in mind the car adjusts to your driving style. I race LSR, Autocross, and HPDE/Track days. These are all completely different forms of performance driving so the car settings are different for each. I also try to preprogram the car prior to racing so its not making computer adjustments while I'm making driving adjustments, i.e., I will take the back roads to an autocross meet and work the twisties hard so by the time I get there the car has adjusted for hard cornering at low speeds and high revs. Prior to LSR, I practice a few hard launches so I can remember what it feels like loosing traction and hooking back up.
So to answer your question on what modes I use.
For autocross, I run in sport and performance mode and shift manually. I have turned all the nannies off as well as the variable steering, none of which I recommend - I have never worked so hard in my life and it didn't improve my lap times.
For LSR, I turn off traction control only. Most folks would benefit from switching to sport mode, but ELWOOD spins up so fast the sport mode shifts are above redline. I prefer the shifts occur immediately at the crest of the torque curve which is around 5900RPM. My tuner adjusted the computer to shift at 5200 in normal mode and I've found at full throttle with the meth at 100% - between the command and the actual shift, I'm right at 5900 for the first four gears.
For HPDE/Track days, it varies depending on the track and my comfort zone. My first time on a track, I'm not trying to wring the car out to its max capability before I've learned the driving lines. I may switch to performance mode to take advantage of the higher revs, but I usually take it easy the first two sessions. For my home track (Gateway) on my race rubber, I shift manually with performance mode on.
For you last question the answer is also yes and NO! Once in manual mode, it doesn't shift unless you tell it, but if you slow way below the gearing it will downshift, i.e., in second or third and you come to a complete stop it will change to first gear.