A sway bar, or also commonly known as a
ANTI-SWAY bar, gets it's name for obvious reasons.
The loss of a little weight off the front is where some of the time loss comes from. It is not from just loosening up the suspension.
I have gained .1-.2 at times during a launch on the same night. So I take .05 (the equivalent of "5 hp") at a pretty insignificant gain.
For the track, sure go for it. I would not do it where I live
Since you believe that many do not know what a sway bar is, I will clear that up with a little quote from wiki.
A sway bar (also stabilizer bar, anti-sway bar, roll bar, or anti-roll bar, ARB) is an automobile suspension device. It connects opposite (left/right) wheels together through short lever arms linked by a torsion spring. A sway bar increases the suspension's roll stiffness -- its resistance to roll in turns, independent of its spring rate in the vertical direction.
In a turn, the sprung mass of the vehicle's body rotates around its roll axis. The roll axis is a line that joins the front and rear roll centers (SAEJ670e). If the vertical distance between the roll axis and the center of gravity is not zero, a torque (roll moment) equal to the centrifugal force times the distance between the center of gravity and the roll axis will be exerted on the sprung mass, causing the body to lean towards the outside of the turn. This force is called the roll couple. One effect of body (frame) lean, for typical suspension geometry, is positive camber of the wheels on the outside of the turn and negative on the inside, which reduces their cornering grip (especially with cross ply tires).
Roll couple is resisted by the suspension roll stiffness, which is a function of the spring rate of the vehicle's springs and of the anti-roll bars, if any. The use of anti-roll bars allows designers to reduce body lean without making the suspension's springs stiffer in the vertical plane, which allows improved body control with less compromise of ride quality.
The spring rate of an anti-roll bar is based on the fourth power of the torsion bar's diameter, the stiffness of the material, the inverse of the length of the lever arms (i.e., the shorter the lever arm, the stiffer the bar), the geometry of the mounting points, and the rigidity of the bar's mounting points. Some anti-roll bars, particularly those intended for use in auto racing, are adjustable, allowing their stiffness to be altered by increasing or reducing the length of the lever arms. This permits the roll stiffness to be tuned for different situations without replacing the entire bar.
Anti roll bars provide 2 main functions:
The first is the reduction of body lean. The reduction of body lean is dependent on the total roll stiffness of the vehicle. Increasing the total roll stiffness of a vehicle does not change the steady state total load (weight) transfer from the inside wheels to the outside wheels, it only reduces body lean. The total lateral load transfer is determined by the CG height and track width.
The other function of anti roll bars is to tune the high g / limit understeer behavior of the vehicle. The limit understeer behavior is tuned by changing the proportion of the total roll stiffness that comes from the front and rear axles. Increasing the proportion of roll stiffness at the front will increase the proportion of the total weight transfer that the front axle reacts and decrease the proportion that the rear axle reacts. This will cause the outer front wheel to run at a higher slip angle, and the outer rear wheel to run at a lower slip angle, which is an understeer effect. Increasing the proportion of roll stiffness at the rear axle will have the opposite effect and decrease understeer.
One thing also, is that a driver is going to notice the sway bar delete much more if they take many curves or mergers.
If you do just a lot of highway and/or interstate driving, you are not going to notice it so much.