Hi Mark,
I autox my LT4 a couple times a month, I'm new at it but have met a lot of nice guys that win at national level & are generous with their insights to this sport. Today a national champ drove mine & gave me a ride in his car.
99.9 of the fast guys run Kumho or Hoosier tires. These are DOT legal but NOT for street use. You'll need 2 sets of wheels. One for race & the other for street.
Having said that, remember that time behind the wheel is more important than the shocks/tires/sway bars or brake pads you install.
Have fun!