I've been compression braking since I started driving -- the benefits are far too many to name -- but I would never use compression braking in a racing environment. You're dealing with rpms that at best would leave you frustrated by the rev limiter and at worst blow your engine. Add on to that the fact that compression braking adds almost nothing to the overall deceleration (in the greater scheme of things), it's just not worth it. Use your brakes to decelerate, and heel-toe to keep your rpms. While racing is somewhat about efficiency and conservation of energy/momentum, all of that gets set aside for greater speed. Just my opinions, of course.
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