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@gbj_tester
It's plenty of margin for racing, but against an IF 953 (*soi-disant *pinnacle of steel frames) it's also free; IF953 is $3600, equating to £2700 with VAT, a lighter and stiffer Pinarello XTrack is £2040 at Evans and you can have it in time for the track day.
Below about £400~500, steel track frames can hold their own with the modest aluminium offerings at the price point, but once you're above that, you're spending money on art, not porn.