You said it yourself, go softer on springs & more droop, but you have to consider the track too. the 1st thing I would do is to take the front & the back anti-roll bars out, put 40 tire in front & 37 in the back & test it on the track which you have plan to run it. My car runs alot better on a small track w/o anti-roll bars & I use 40 all around.
Please visit RDlogics Mongoose G4 w/the same question you might get more info. there.