Actually, I would say that high-speed tuning is a considerably more thorough thing to do than track tuning, because it is objectively measurable and can be honed to a totally perfect result - ie, the highest possible speed for the car - whereas track tuning is an adaptable art, and flaws can be compensated for in driving and other aspects of the setup - not so in speed tuning. Someone like Leonidae, who has a lot of experience in both high-speed and track-car tuning, can probably give a more informed opinion on this one.
Correct. Now you have a target.
DE
Thanks for rolling that on my shoulders, buddy.
But anyway..
Let's use a Nissan 300ZX twinturbo '98 as an example, and say that it's the low mileage one, with fresh chassis, perky engine, practically in showroom condition, and start aiming for top speed.
So, you purchase all performance parts for it that you believe that it needs, and make couple initial runs´, just to notice that the car doesn't turn well, and runs out of gears.
So you return to the pits, adjust the car accordingly, and try again, getting bit better results. you're now going faster, but as a result, the understeer hasn't changed, so you have to tinker with the suspension. After doing this, oyu notice that the car has lost top speed instead of gaining it thanks to more grippy setup, and you start trying different driving lines. one days work will probably lead into the situation, that your pretty, 6.2 mile purple 300ZX Twinturbo has warped chassis, nearly 1000 miles on the clock and permanent power losses, and you've gained only about 40mph+ into your speed, which is STILL over 30 miles away from the magical barrier of 300mph.
Next thing is, that you copy your game files and buy the 6.2 mile 300ZX from your new savegame, apply the settings and keep going.. slowly yet certainly you'll approach 300mph, until you finally reach it, and that, if what is the most rewarding feeling in this game. It took almost a year from me with this bugger to get it done, since every car needs different kind of tuning for top speed runs. and even when you hone it for hours, it's likely that you fall 1.67mph short of your target.
What I did, was taking other cars to 300mph and beyond, including Supra RZ and Nismo S-Tune (<-- that's a record which is still within my tight, dead mans grasp), and even huge whale called 3000GT!
So that's the top speed path, more or less.
And now, to track tuning, or tuning for handling and speed, and preferably a nice compromise between these.
First off, you buy the car. You probably test drive it, find out it's good and bad sides and possibly helpful or harmful quirks. But unlike in top speed tuning, the target usually isn't that far. Because now you can use all those racing techniques to help the handling characteristics of the car to carry you through the corners, instead of relying just on tires and downforce.
You might have developed a certain formula that you use in your cars, apply it first and then move on from that, finetuning the brakes so they won't lock under braking from high speed, causing understeer or worst, losing traction in the rear ( unless this is a desired behaviour ).
You try different tyre compounds, spring and shock absorber ratios, different roll bar stiffness, even ballast weight. And suddenly you notice that in some corners, where you usually go through carefully around 110mph and on the edge of losing control, you're flying through at full chatter around 130-140mph without a hint of a disaster, which is a huge improvement! The car sucks itself into the apexes, and careful fondling of the throttle helps you to keep the driving line in check.
During this process, my cars usually spend day or two on the track, a week in case of the rear engined/AWD ones, and they hardly ever get more than from 80-200miles in their odometer. so they're still good for racing and all.
This is how I'd describe the differences between the top speed tuning and trackday tuning. Topspeed tuning is a long, frustrating process that might cause you to start smoking, using excessive amounts of coffee and general grumpyness, whereas track tuning rewards you quicker, letting you learn something new all the time about the particular car you're driving.