Check out the Slayden setup at the top of the Slash 4x4 page, lots of useful info there. I used it to setup for my first race and ended the day on the podium with a 3rd place
I would change the setup.
Increase the shock angles to be more aggressive, top mounts in, buttom mounts out, change the swaybars to black.
2S should be more then enough power on such a tight track.
Propper racing tires like Pro-Line Bow-Ties or Calibers and cooler for the Velineon motor.
And you are off to a good start.
No the TQi doesn't have ABS