I have never heard of Mobil 1 "Racing" oil period. I have seen regular Mobil 1 0w-30 and 0W-20 on the shelf at Wal Mart but my turbo PT Cruiser recommends 10W-30 and I use Mobil 1 10W-30 or other 10W-30 synthetics in it.
My '06 SRT8 Charger came with 0W40 Mobil 1 synthetic .. It's stamped on the fill cap, so that's all I've been using .. doesn't say racing oil on the bottle, but it costs enough
I run 10W30, I was just wondering if anyone used it and saw any benefit. I don't know what there would be over standard synthetic, but someone who might have used it might have an opinion on that.
The 0W oils are being recommended by the manufacturers now in an attempt to reduce friction and increase mileage. I wouldn't even consider it for an old car, especially one with a flat tappet cam.