I went to Mid-Ohio yesterday to watch some of the SCCA National Run-Offs. Luckily I picked the day when the Touring2 class ran and I got to see the Z run against it's performance rivals. I was surprised at the cars that are grouped in that class:
WRX STI
Evo
Cadillac CTS-V
Neon SRT
RX8
BMW 330I
Camaro SS
Firebird Ram Air
Porsche Boxster
350Z
Honda S2000
Pontic GTO
These cars are basically bone stock with safety gear and shaved street tires.
I was thrilled to see a 350Z had qualified 4th or 5th out of 43 cars and was looking forward to seeing how it would do in the actual race. Unfortuantely a Camaro punted him off track on lap two and he fell to about 15th. He got going again and got up to about 10th before a Firebird got into his rear quarter and spun him again. After that he sort of gave up and cruised. His lap times when he was pushing it were nearly identical to the leaders. The race was won by a WRX STI with another second and the Firebird third. The top finishing Z was about 10th but he did beat all the S2000s and the Boxsters Great race, just wish the Z had been there towards the end. The races will be televised on Speed channel in the upcoming months.

 

These cars are alot more modified than you think, they may look stock, but to have a competitive car figure on spending aprox $25k......

 

here is a link to the T2 race

https://my350z.com/forum/autocross-road/142949-runoffs-are-here-2.html

 

the "brickyard" Z you were watching had the pole on first day of qualifying. Final qualifying put the car in 4th place. In turn one of the second lap he was ramed in the left rear wheel spinning the car off into the gravel trap on the outside of the turn. He kept his foot in the gas and made it thru the gravel to come back on the track in last place. The Mitsubuishi Evo driver never lifted his foot. The Z car worked his way back thru the rear of the field and passed all the other Z's only to get involved with the red and white Firebird and broadsided a BMW taking the front end of the Z off. He had to part the car as the radiator hose was blocked and metal was into the front tire.
Mark is right, you can easily get $25k involved after you buy the car. The rules allow the Z a few extra suspension items because it is about 50 to 60 (conservative) horsepower below the front runners. This was the second race for the car and its not fully sorted out. The driver is a past national champion who also has two second places including last year in a Camaro. Look for a better showing next year.