As for the rotors.
While I have yet to run the GT at the track, I can speak from experience with a Zo6 and M3. The Z would toast a set of rotors in a weekend run very hard. The M would warp rotors quickly.
Cryo Treated Rotors
After speaking with an M team from Turner motorsports in 1994, they turned me on to Frozenrotors.com. They cryo treat the rotors. With the M3 the warping problem went away. With the Z I am able to run the PFC01 perf friction compound and the rotors do not groove. If I run this compound on stock rotors they are very rough in a day. At the end of the month I will be on my 5th weekend with the Z rotors, which includes a 4 hours enduro ans another enduro coming up. The owner is a performance car nut, he has several cars. He is easy to speak with and will help with question.
Believe it or not cryo does work. It is not real expensive and will be one of the first things I do when I start serious track days. If you change the compound and keep the rotors stock you may see heavier rotor wear. As said before pads are cheap and simple.
Brake Fluid Observations on other cars
On another note I have found the Motul RBF 600 factory Line brake fluid to be the best match with the GM ABS unit. Others that ran the ATE super blue have all had issues gunking up the unit. The Ford fluid is not bad IMO, it is made by performance friction, not as good as the Motul IMO, but as close as you can get with Dot3. I run this in a 5.0 A Sedan.
Pad Compound experience
I have tried many compounds over the years. I have found a few mfg's that do well with one car and not another. Example the Hawks and Porterfields worked great on the PBR mustang calipers. The Carbotecs and PFC seam to work better on the Z. It may take some experimenting to find out which is the best solution. I have yet to search what pads you are running or what is currently available in the aftermarket. Can you post up who is making an aftermarket pad for the GT?
I have a good friend that tests compounds and set-up's for various Mfg's. I know he has not played with a GT, but I may be able to contact the mfg and see what testing they have done.
Tires and Braking - Observations / Experience
I have learned that tires play just as big a role in braking as the pads do, maybe more. For example at Buttonwillow with the stock tires. At the end of the front straight I have to break about 30 yards from the turn in point. The ABS makes lots of nosie at this point and I just make the turn.
With the Nitto R2's and in about 1/2" wider size I can go about 5 yards deeper before braking and ABS barely engages.
With the Goodyear Eagles on 18' up front I can go a full 10-13 yards deeper and no ABS interaction at all. These tires weight are about 10 lbs lighter per wheel as well. No steel belts. The reduced rotating mass is also factor here.
The brakes on the C5 Z do not feel as good as other exotics, but they have never failed me. It is more of a confidence situation than a performance issue. I have seen others spend tons of money on upgrades when it was not necessary. At the end of the day they are a little faster, from the confidence, but not enough to justify the cost. And nothing some extra seat time or a good driving school would not solve.
Brakes do not stop a car - Tires do.
maybe the guys who have run both stock tires and Hoosiers can chime in to see if the theory hold true for the GT as well. I see no reason it would not. But you never know.
Brake Ducts
I have run many cars with and without. The Z is known for hot rotors, so I added them. There is not a big difference in the stopping power. The difference is seen in how often I need to flush the calipers. 30 min sessions are not enough to cause issues at the So. Cal tracks. Tracks with big elevation changes like Laguna, Sears Point may make be different. I have run 1:37's - 1:38's in the Z at Laguna without issue and drive it home. I do flush at the end of day 1. Ony because the down hill part of the straight is a bit scary and I want insurance. Turn one is a real PITA coming down from those speeds, you have yet another braking area at two then they cool off by the time you brake at the top of the hill.
I would notice some fade at the end of day 1 prior to the ductsat Buttonwillow, but nothing at Big Willow Springs. If I flushed the calipers they came right back. With the ducts I do not notice anything till the end of day two. Keep in mind the Z will melt the dust boots right off after a couple hard sessions.
I doubt many will ever run the GT as hard as I run this car. If you do a quick flush of the fronts when you notice any fade, the color of the fluid will tell the story. If the fluid turned brown or black that likely caused the fade. If it is clear it was a pad issue. Also note, the thinner the pads get, the faster the fluid will boil. Meaning you would need to adjust your flush cycle to compensate accordingly. For me 1/3 worn off is not really noticable in a 30 min session. If you run back to back sessions all the time, that is a different story.
Sorry for the long post, got carried away.