For a drag race car, it will hurt you, to add any weight, IF your getting the wheels up, at launch. If there up, you have transferred everything you can, to the rear. Mounting thing high can help that.
For road racing, it will usually only help, if you need to add weight, to make a minimum weight. It can help corner exit but, will hurt acceleration.
For a road race car, the prime area to work on is front to rear balance (including suspension mods) and lowering the CG, as much as possible. Moving components to the rear (balance out the driver weight will help) and mounting them as low as possible, is the way to go.
You need wheel scales to be successful, now a days in RR.