During track events where you approach turns at high speed, and you might need to downshift from 3rd to 2nd for a brief moment, how bad is it for your engine to "engine brake" it? Is it just as hard on the tranny or mainly just the engine? TIA.

 

Try learning how to heel-toe. I don't track race but I'm trying to get the hang of it just 'cause. 1K!!

 

When at the track, you generally are either on the brakes or on the gas. Based on this, if you are using only engine braking, you were not going fast enough...

When approaching a corner, brake in a straight line and step on the gas as you start your turn-in and power through the corner.

If this did not answer your question, please restate.

 

Back when brakes weren't so hot, people did downshift to get engine braking and avoid fading the brakes for a little longer. This was mostly in competition, where you didn't much care if you wore out the clutch and gearbox, as long as you won. But weak brakes aren't much of a problem anymore.

Now the only reason to downshift is to be in the powerband when you accelerate through a turn. Hence you generally want to downshift as late in the braking as possible, just before you get off the brake and start your turn in.
http://www.turnfast.com has a nice tutorial on heel & toe braking, as well as other track skills.

 

Yep, use the brakes to stop the car, not the engine. You won't slow down any faster using the engine anyway. Brake pads are cheap and easy to replace compared to a clutch.

 

i didnt even know you could reach the pedal?

 

I would just use my feet to Brake, like the Flinestone's.