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OD is simply a gear ratio that's less than 1:1, which means it makes your engine spin slower than the transmission. This results in better gas mileage when maintaining speed (like highway cruising), but lugs the engine much more if trying to accelerate due to the negative mechanical advantage. That's why 4th gear (1:1 ratio) will always out accelerate an OD gear. It's not just because of the reduced ratio.
Don't bother turning it off at the track since you're pretty much stock, you won't be getting through third gear anyway, IT WILL MAKE NO DIFFERENCE FOR YOUAT THE TRACK.