Ask me anything BMW and I pretty much knew those answers. The 911 is a completely different swimming pool though. A couple things about me that may help. I am a certified HPDE instructor thru BMWCCA for 10 years, I also completed my BMWCCA Race School and was approved to race in BMWCCA racing program, and lastly I am the High Performance Drivers Education Chair for the Lone Star BMWCCA Chapter in Texas.

First, I need to source some sort of HPDE tire, either RE-71R's or R888's street tires don't work at HPDE's. Tire Rack pricing is absurd and I know there has to be sources out there to buy tires from at a better price, as there was for the M3's I have owned and tracked.
Second, oils... I understand Porsche recommends Mobil 1. But lets be honest here, we all know thats because Mobil 1 gives Porsche oil, probably free to say they recommend their brand. I have used Red Line and Motul in the past and with my first oil change switch to one of those, unless someone can give me reasons to stay with Mobil 1.
Lastly, what are the know problems you should be concerned with, when you track your 911. Mine is a 2006 Carrera 3.6, and yes I have checked the engine number and by Porsche's numbers I have the larger and improved IMS in my car.

Thanks for any advice, and or comments anyone has.

 

Welcome to the Porsche family and nice upgrade.

There's no reason to stay with Mobil 1 - actually plenty of reasons to use something else. That something else for a 997.1 like yours would be Driven DT40 or if you're worried about A40 approval, Motul 8100 xcess.

Can't help you with the tires.

For tracking a 997, adding a center 3rd radiator kit is a very good idea, as well as the LN Engineering Low Temp Thermostat. This will bring all the coolant up to temp more gradually, and have it fully open by 180 degrees, whereas the stock 180 degree thermostat doesn't start opening until 180 degrees and sometimes isn't fully open until 212.

 

For what it's worth I just got a set of RE-71R's. Have nothing bad to say about them except that brand new, the road noise is about equal to my old Michelins with 12,000 miles on them. A guy over at Rennlist bought the same tires but only use them for the track. To him the racket just driving to and from the track is highly annoying and he says there's no way he could daily drive these tires. I daily drive mine and although they're noisy as hell I usually play music which drowns out most of it so it's not a terribly big deal to me. That said, would probably not buy again for a street tire.