In my opinion if you're pushing the car to its limit, a bypass system may not be appropriate.
If you have it set up to return to your oilpan or head cover, then you are reducing the pressure and amount of oil being pumped to critical components. Some cars are known to have engine failures (scored cylinders) due to inadequate lubrication during racing conditions. Speed shops sell high volume oil pumps for this purpose. If you were to stay with a standard oil pump you're going in the wrong direction.
If you have a Dual Remote bypass system like Amsoil's, you get full flow, but you lower your peak oil pressure, which is crucial at the engine's limits. You could replace the engine's bypass valve spring to increase the max pressure and go with a high flow oil pump and that would probably be fine.
But even if flow wasn't an issue, you wouldn't want to increase the weight of your car even one pound. With a bypass system, you're adding a significant amount of weight in the bypass filter and plumbing, along with the added weight of the extra oil. That will work against you when racing.
If you like the idea of better filtration with a race car, consider a simple setup that can be installed or removed in a short time. That way you can take it off when you race. another option is to go with a Canton filter.
BTW: I have a Dual Remote bypass system in my '03 Honda S2000, but I don't track it.