Thanks for all the info. The car did come with the gear diff already so I'll change the fluid in that. It also came with the Exotek adjustable upper arms so I'm not sure where to start with making changes. No one at my track actually runs F1 but there are a few of us that have them and want to start running them.

F1 is no different then touring cars when it comes to set ups. What works for one may not work for another.
The crc tires are probably the best for the black rug. Montech wings seem to be the most durable.
personally I run a very stiff front end(keeps the wing off the rug) and a very soft rear pod and diff(2.3 spring, 10k in the tubes and 8k diff). I run zero front droop and about 1.2-1.5mm pod droop.
Enjoy trying set up changes and let us know what you end up with.

Since we are talking about setups, what are you using for setup stations? I have a touring car setup station, but it doesn't fit on the axle of the F1.

I use these with my TC setup station.
https://www.hudy.net/xhudy/products/proddesc.php?prod_id=736&kategoria=64&Hudy_Session =61ec81f74c4a94d423b88b1544a11ab5

Do these go over the axle to give the setup station something to tighten up against?

yes

If you want the best pre-mont tire on the market go with volante !
they are allways right !

carpet red rear
med-soft green front

I have it on my SF4 on black carpet and they are awesome !

I run the CRC F1 tires. I have ran the Volante tires and I absolutely hated them. Waste of money but I was not running the red rears green fronts (these didn't exist back then). I haven't tried the Volante's recently as I don't feel I should waste my money to experiment with Volante tires again. CRC F1 tires have always been good to me on black carpet so I'll stick with them. Volante's are nice looking tires and have no wobble so I will give them that.

CRC F1 tires on asphalt
 

If the front end of the car is bouncy at the end of the straight, what change needs to be made?

Try some tube grease\silicone on the kingpins.

As mentioned, put some lube on the king pins. I usually run 10-15k tube lube on the king pins.

Lube is not the issue. I think the front springs may have been too soft causing the wing to bounce off the carpet. Anyway, I run 15k kyosho and 30k kyosho on the king pins.