I have a two day track event coming up using my own R8(6MT). Any recommendations on how to set the ESP? (e.g fully engaged, ASR off only, ESP fully off). Any other track tips would be appreciated. This is my first event.

even with all the goodies left on, they let me adjust the cornering attitude of the car with the throttle to a degree I did not think they would. Intervention was subtle when the threshold was breached, so the chassis was not upset. The car has very high limits. I think you'll be far more intent on an unfamiliar environment and finding your own limits, than running into limitations of the stability controls.

You did not say if this was just a lapping type event, or a true school with skidpad, slalom, tight technical course, etc. Instructors? Any of them know awd? If a true school, then speeds will be low, and the situation more tightly controlled to reduce risk. I would be more inclined to play with shutting off things in that case. Especially if a wet skidpad is used. It can be very helpful to recognize how the car feels, right before it lets go.

I remember when I first went to the track and thought I knew how to drive. By the end of the day, I realized I sucked, and had a long way to go. The car was never the limiting factor - it was me. This was hammered home even more when a former hot shoe with a degenerative disease hopped into a 200hp fwd 4 seat sedan on all season tires, and in a couple of laps blew away everybody's best lap times. We're talking about 50 other cars and drivers of various skill levels, some with 3 times the power, and specially built for the track machines.

Work on modifying the nut behind the wheel;-)

I suggest always keep the Magnetic Drive engaged. The ESP is something you can play with only after a few lessons and track days, but there is really never any reason to turn off the Magnetic Sports Drive. With it off, the car becomes much more sluggish, and heavy thru the turns.
The R8 is a great confidence builder on the track. Trust the car and have fun.

I'd keep everything on. For sure keep the mag suspension on. As for ESP, if you are experienced, go for it. If not, I see now reason to turn it off. Unless you're a seasoned veteran on the track, the limiting won't be done by the car, but by the driver. Spend some time with it on, push the car, then when you feel comfortable, turn it off and take it a little easier. Don't try to push the limits if you aren't familiar with them.

This is a lapping event with instructors assigned to all the "Green Group" drivers (first timers) such as myself.

Thanks everyone for all the great advice. I'm not proud. I know I'm a rooky. So I'll be conservative and keep the controls fully engaged. I don't want a repeat of the VIR incident posted on YouTube. :)