There are many 'nuggets of knowledge' in the racing world.
"The turn before the longest straight is the most important"
"The apex line is the fastest line through a turn"
This knowledge comes from many years of experience handed down through the generations of racers, but physics can give us an answer as to why they are true. By understanding the physics behind racing, a team can push their vehicle to its performance limits. This understanding can also give insight into novel ideas and new ways of doing things.
Quantum Racing and the Physics of Racing (ppt)
A collection of articles written by Brian Beckman entitled "The Physics of Racing" can be found here.