The "all red" setup seems to work the best for me for road courses with lots of turns.
I have a 27 and a 49, and I run red gear, red motor in both, with the "all season" tread tires on both. They 49 runs a little faster right now, but only because the motor is newer.
I used to run the slicks on my 27, but I think they have actually worn unevenly, as I was getting some wierd wobble that I originally thought was a bent axle or something. Putting the all-seasons back on seemed to fix the problem.
I have noticed that the motors definitely wear down with heavy use. When one of my reds gets particularly slow, I will probably put the yellow 2.35 motor back in. Luckily, ZZ motors are cheap, but unfortunately, you have to buy the other stuff that comes with them. (I already have three blue axles / gears that I will probably never use.)
Here's my Mustang, devoid of paint. I plan on repainting it, but my my painting skills suck. (It has been stripped twice now.) I think it looks crappy this way, but it is definitely unique: