I keep reading about how Overdrive should be turned off while racing, I read a little about the technical aspect of what this function does, but I still am not clear on how exactly having Overdrive set to off helps in a race. Could you guys fill me in??

 

There's really not much of a benefit. If you switch it off, you're just ensuring that O/D won't kick in. As long as you keep the car floored, it won't kick in until you're going pretty fast anyway...(prob. around 80-90 or so). When it kicks in you'll feel a loss of power, so if you're going to race to like 100mph or something, you'll probably want to shut it off...
-Chad

 

or if you're on the expressway, crusing along at 80 or so in o/d gear and some punk wants to tango - hit the o/d off button to drop down into 3rd for max torque

 

Just FYI, 3rd gear will take you all the way to 130mph...not just 80-90...