I dont have personal experience on tracks(yet), but I do on streets an if it matters a lot on car simulators(mainly forza 2) lol. Forza 2 is no joke, there's a thread on corvette forum of people comparing their real times to game times only being fractions to a second or two off, using same setup car.
Just from street driving, and it applies in the game...if you split a lane into 4 sections(left to right being 1,2,3,4), when coming up to the turn youll want to stick to the outside 1,2 lane..can also ride it 50/50. As your coming to the actually turn you'll move over to the inside 3,4 lanes(if you're engine braking, means you've found the ideal speed to take the corner without actually slowing your momentum) you can also ride curb if you're good enough heh, as you come out of the turn that's when you'll power out.
Heres a good exmaple. This is part of Road Atlanta track, you can see the "driver line". Coming from the outside then going into the inside..then powerig it out to the outside then back into the inside.
