The stability control system interferes a ton on-track, not much fun to be had, and it'll eat through an entire set of pads (or rotors with race pads) in one weekend (I drove home with metal-on-metal braking in the rear, it was miserable). It also can make the car feel uncomfortable, weird, or just downright awful in certain situations when left on. I don't really know the extent of MDM, but I'm sure it's similar to DTC in the non-M 1'ers, in that it allows total traction slippage, but will cut power if the slip angle becomes too great. I run with all systems off, but I don't have the power and go-kart-like snappy nature that the 1M seems to be known for...
I recently coded all of the braking nannies out of my car (engine power reduction from overheating brakes, maximum brake support, brake pressure mapping for sport brakes, etc.) and the brakes feel a good bit better. I'm running giant (you saw them) F30 335i brakes, and riding on tiny little 225-section tires, so over-braking is a well-known phenomenon to me, but the fade doesn't exist, even with OEM pads...
Pilot Sports aren't really good track tires (I've done some looking), they have a tendency to get very greasy when hot (unpredictablility), and don't like cold weather. Bridgestone Potenza RE71Rs are highly reputable, but are more geared towards short, autocross runs. The Firestone Firehawk Indy 500 (say that ten times really, really fast) has some awesome reviews on Tire Rack, and seem to be a good track/performance tire for newbies (like ourselves). I had an instructor who recommended against R-comps until you really know your car, as they aren't particularly forgiving or communicative tires at-the-limit, and are really sensitive to temperatures (they can crack in the cold).
I hate heel-toeing, it also doesn't help that my car has fairly long pedal travel, which means I really can't heel-toe at the threshold. Also, it isn't really necessary, our cars have synchro's which takes care of synching-up transmission speeds, and then with a smooth enough release of the clutch, you won't upset the car.
Glad you had an awesome time, I've got my first day next month, and a lot of new things on the car to enjoy (camber plates, better alignment, oil cooler, 135i cluster, and maybe a race seat). I still can't believe I got a picture of my car next to a 1M
