As for the tire question:

Are the tires speed rated? no.
Do they pass DOT testing for load and durablity? yes and surpass.
Are they designed for racing? no.
Do they hold up to abuse? I would have to say yes. The tires that Lane pulled 1.52 60's with this weekend are 2 years old.

These tires are built using better materials than were available back in the day. These tires held up to a lot of abuse back in the day and they are doing a yeomans job of holding up to car producing upwards of 800 hp!! They were on cars that hit 130 plus out in the panhandle of Oklahoma back in the day and were burning down the boulivard in the back street brawls.

Can something go wrong? yes. Rocks, sharp objects, and other foreign material can cut a tire down.
Has anything gone wrong? Not to my knowledge. Not saying it can't happen.

You see slicks getting cut down and causing all kinds of issues when they go. I hope to never see this happen to anyone.