1/8 offroad buggy is THE class right now. Worldwide. You could bring your gear and enter an incredibly competitive event in almost any country. It seems as though truggy, for the most part, is only raced in the US, Canada, Australia, Russia and parts of Asia.
I would say that truggy has made me faster. It's easier to learn the track with a truggy, because it is dramatically easier to keep in the racing line.