I also agree with MRPBODY, the moly cage is stronger, safer, lighter and better in a crash, especially on a drag car. That being said NASCAR wants mild steel, probally because a lot of the good old boys do a lot of the work themselves in the lower, slower local race cars and they don't want them trying to weld chrome moly with a OX Acetelene torch
I believe they use mild due to them busting up their cars all the time and always replacing tubing and they have a PILE more tubing in their cars plus they have a pretty high minimum weight