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You may remember from your high school chemistry class that impurities to pure water lower the boiling point. Glycol (the active ingredient in anti-freeze) has a much lower boiling point than water.
Water Wetter is the additive that most track guys run. You can buy it at PEP Boys or just about any race shop. (Better yet, go to the track and someone will have some for sale.) The manufacturer claims that Water Wetter works by having a very large molecule that allows it to move more heat away from the engine faster than water. The boiling point would still be lowered slightly, but it makes up for it by moving heat faster. Some argue that Water Wetter, Prestone, or others are also helpful for lubrication of the water pump.
As for us, we run water or water & water-wetter during race season and then add anti-freeze just for the cold months when we are in danger of freezing. It has to be out by the time you get to the track though because it is very slippery and a hazard if it gets on the track.
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