I shoot track events for my car club (apparently I'm the only person with both a car and a camera).
Over the last ten years I've gotten good at panning to get the car fairly sharp and the background to be a blur. I'll confess that I use a D700 for this and Nikon's so-called "worst telephoto lens": the 24-120 AF-D. However, it has produced very sharp car photos in these situations: good enough for at least 11x14 prints.
I shoot at 1/60th 75% of the time, 1/125 the rest. Aperture is usually f/11 and ISO is set at 200. 75% of my shots are at full zoom: 120mm. I am at the edge of the track, so distance is maybe 30-50 yards. The car's width fills about 50% of the frame. Also, I'll mostly use 3 frames per second or slower -- any faster doesn't work for me because it's too distracting and I can't follow the car - which at my location is probably slowing to 80 mph.
My panning technique is to position myself facing the end of my pan. For example, cars coming from my left and exiting to my right, I face to the right. As the car comes, I twist to the left and start with the nose of the car about 1/3 left of center (it's at an angle), make a shot, follow it through as it's abreast of me (and centered or still slightly left), make the shot, make another as it's going away. I don't like seeing the car too far past the center in the viewfinder.
As far as exposure, the ISO 200, 1/60, f/11 works for our typically sunny track days and the grey or dark environment of the track area.
Anyway, that's what works for me.