It's really all about the driver. Sure you give up something in the HP and torque department, but FWIW, I got my butt kicked last year by everyone, including an ATX/4cyl Mystique at the Spring Zing AutoX. So it's really about 75-80% driver.
Just do it, then go work on your car. You can rotate your tires after you wear them a bit more

You probably will put more wear and tear on your car driving it there an back. You are going to stress the car for 3-5 30-60 second runs. Five miles of stop and go traffic is about as stressful to your car.
Yes, the 17's would put you into STS.
TB