Originally Posted by CanAutM3
The shorter sidewall will also make the tire stiffer, but may also make the tire less compliant to adhere to road surface imperfections.
For the race tracks the shorter sidewall will be of benefit as discussed.
For the drags however a taller sidewall is preferable. This is the reason why drag slicks have such tall high profiles, you want a soft flexible sidewall to allow more contact area and grip on take-off.
For the street, depends on the quality of the streets in your area, if you do a lot of country driving I would go for the 35's.