i say race it as you drive it every day if you want it to be a street car. it's not a street car if you're running better than pump gas, unless you run 100 or whatever EVERY DAY. nitrous i won't bitch about, as that is fully streetable, while not legal, it is easily used on the street, and it's on your car every day, just like the rest of the car. i personally will refuse to race anything on slicks unless it's the same weight or heavier. slicks are not street tires, so you are not a street car when you run slicks.
that is my opinion, take it as you will, but it makes perfect sense to me. if anyone wants to run slicks by all means go ahead. but you're going to also add bricks in the trunk until it's the same weight as my car.