We have run Cal-Tracs and Rancho 5-way adjustable shocks on our NSS/C '64 Savoy for several years with no ill effects on the street. Rides just fine using the same settings on the track. 1.50 60ft on a 9" slick.
I installed a pair of Cal-Trac monoleafs, bars, and Rancho 9-ways on my wife's 70 Barracuda street car last year. It rides like a log wagon. Upon further inspection, I have come to realize the shocks are too long. It only has about 1 1/2" of travel before they bottom out. My oversight 100%. Apparently I picked up a pair of Ranchos intended for an 1" over stock ride height application and ended up purchasing stock ride height monoleafs. (Bought the shocks before the rest of the Calvert set-up.) I intend to swap out the shocks in the next couple months and will see how it responds. John Calvert offered to trade my current shocks for the shorter ones...even though I did not purchase the initial set from him. He's always treated us right. Travis too.