Sorry for the late post. I'm a farmer now...
You stated 'racing' so my comments were mainly aimed at a max vehicle cornering scenario instead of a 'Touring' campaign such as a weekend warrior would enjoy.
At this level of handling, the vehicle domain is mainly defined by the tire's characterizing functions, not much or none left from slip/steer changes but quite a bit left from FZ and Camber (and air pressure). Thus the load transfer generation and the camber changes in each tire both from geometry and structural reactions are still manageable. Recall that the tire is a velocity device, so damping and other transient variables are strong players. This includes tire transient properties. Although the FY transient is mentioned a lot and incorrectly: its NOT a first order function) The MX and especially the MZ transient response is quite facinating. This is because of the large change in the magnitude of the time 'delay' (keep in mind its 3rd order, not 1st order) and also because its affected by the level of FY stiffness (ie. derivative), AND because of the initial spike in the MZ function at zero distance traveled. [This is a big part of the 'feel' in 'road feel'. Thus a vehicle can be decribed as 'tight' (understeering) because of the long settling time but is actually quote oversteering ('loose') if you wait it out. As Terry Satchell used to (and still does) call it 'tighty-loose'. BTW: Terry and I go WAY back to the late '70s and 80's. These properties also produce turn out (return to straight ahead) reactions that can be quite awkward because a car set up to accept the low rigid body MZ (the sum of all 4 tires Mz's) can go berserk in closed loop control (driver in the loop) when it all kicks back in late in the maneuver.
The tire's MX reaction control point is also strongly influenced by camber, thus camber is used to optimize the MX level (low) because that's where the FY is highest. We call this a 'happy tire'. Ever heard a driver call out that the car was rolling over on its tires? Well, its IS ! Think of a race tire as a jelly doughnut with a rubber band around it. When the tire is loaded and slipped and cambered, the tread moves to a balanced position. By tread I mean the actual film surface of the tire, not necessarily the tire tread belt package. With too much camber, the tread moves away from the wheel in one direction (and off the tire). With too little camber, the tread moves off the tire in the other direction. A good oval racing strategy is to use this 'feature' of the tire tread to put the tread back in place during straightaway action. Then the tread can come outward during cornering. BTW, where do you think the marbles come from? That's also why you see them turning to the right when going straight.
Now, back to the original question on damping. The front and rear axle sideslip derivatives, (Bundorf and Leffert's Cornering Compliances) affect the steady state as well as dynamic portions of race car control as well as a limosine's control. (Did I mention that I used to work for both Tom Bundorf and Ron Leffert?) The difference in the front and rear cornering compliances (viewed as positive scalar quantities) is the vehicle control gain. You could call it understeer or oversteer) and the sum divided by the product is the 'damping ratio' of system (remember its not a second order system though).
So, you can study analytically the nonlinear system responses of various vehicles at all levels of maneuvering severity, including racing where some of these derivatives are very small or maybe even negative. For cars with the same understeer yet different cornering compliances, the control gain is the same, but the response time and overshoot are very different. Also, for cars with a cornering compliance recipe with the same damping level, the gains and natural frequencies are very different. It doesn't take very long to establish the need to set the rear cornering compliance at a low level in order to have moderate and positve control gain (goes to the right when you turn to the right) and fast response (high natural frequency) with low overshoot in the yaw and sideslip variables. 'Understeer' raises the natural frequency of the car, which is good. Too much is bad, though. With a bad rear, you can fix the gain by adding more to the front and screw up the dynamic response as well as reducing the max lateral capability. Also with a bad rear, you can produce a nice steering feel presense but have a vehicle that is unstable to drive without excessive driver involvment (they eventually wear out). You say that this seems simple? The problem is then getting a set of tires that have these high cornering stiffnesses, great transient responses (vs. distance remember?) and live for more than a few laps.
SO starting with the rear and adding front axle factors (including nonlinear steering system compliance), some traction influences and some appropriate tie rod loads with a great set of tires set to the best pressures gives you the best car on any given day in my book. A good driver can make any good car perform at the expense of exhaustion. A Great driver knows how to differentiate which end of the car needs to be fixed and when the best car needs to arrive from this fix at the desired lap.