Ed - you are 100% correct. My car is most definitely NOT set up for the track, although we have been there several times. Needs sway bars and an LSD for the track.
Mind you - I have managed a 100mph 4 wheel drift in it - once. And full opposite lock cornering a couple of times without spinning.
I hold the record for spinning most times in one lap at our local track - I claimed I was "getting to know the car".
The Lotus 7 clones learnt to keep well away from me.