The Black Metal V8olvo '84 244, which weighs a shit-ton more than a non-V8 240, has run several races (including Reno-Fernley and Thunderhill, both pretty high-speed) and hasn't had any brake problems yet. It's got all stock brake hardware, with hi-temp fluid and Porterfield pads (supposedly it's not a huge challenge to hack RX7 front rotors to fit a 240, but it hasn't seemed necessary). You need to bleed the living hell out of the system, since any air in the lines will cause badness at high temps, and that's a real PITA with the super-safe double-everything 240 brake system.
Back in the days when there was a lot more contact (i.e., Altamont), 240s tended to get hit in the right rear and lose the fuel filler pipe, which led to massive leakage and much time in the pits. It's a good idea to move the filler so it doesn't go through the quarter panel, just in case.
I think the best guys to talk to about 240 large-track driving strategy would be the Bernal Dads, who have run a (Volvo-engined) 245 in many races and have always done well. I can't recall seeing them on the forum, so I'll send an email and see about getting one of them to help you out.