Well, the more I learn the more questions I come up with. Just out of curiosity do people turn off the traction control when they drag to get more power to the wheels or do they leave it on?

off,

If you want, when you peel out, have your heating system off. If you do not have slicks and don't peel with normal tires then when you race have your heating system on max to get rid of additinal heat.

Just a word from the wise....If you're going to have the heating system on when doing a burnout, be sure it's on "Recirc".
I always pull the fuse that disables TCS. This also disables the ABS. From what I'm told, the "TCS" switch on your DIC doesn't disable both. Some people have a bypass switch for the same fuse, so they don't have to pull it all the time. Just a flick of the switch from inside the car.
Later now,

What is the advantage to disabling the abs? Doesn't that just effect braking?

ABS also takes a roll in Traction Control. The ABS senses wheel spin and applies the brakes accordingly. The TCS switch only affects the engine cutout. This is the way I have interpreted it.
Later now,