Hi, about Racelogic in general: I believe the driving wheel slip can be set to a number of levers, ie: 1,2, 4% etc, with the highest setting allowing quite a lot of power sliding, and the minimum being designed for the wet, to prevernt sudden wet wheelspin/aquaplaning etc.
Traction control in F1:
At the first Gp this year, at Albert Park in Melbourne, it was very interesting to see and hear their traction control in action.
The most notable thing was that the better the car, and the better the driver, the less it could be heard operating.
For example, Michael Schumacher and David Coulthard's cars would rarely have intervention that could be heard, whereas the new guy Katoh in the misbehaving Jordan was causing the system to intervene everywhere, straights included.
From this I can maybe assume that traction control can work as a good band-aid for other problems (no real suprises there!), and a well set up car with skilled driver tend to operate in the zone where the tires grip!
The sensitivity of the systems was easy to see as well- if a driver dropped a tire off the end of a kerb at 200 kph, for about 2 meters, a clear "pop" could be heard as the TC intervened and limited the wheelspin.
And 2 meters at that speed takes all of 0.036 seconds...faster than any hero can make an adjustment: except that we Humans have the benefit of foresight...