There are a couple really good PWD sites which discuss the science and physics behind a fast car.
My boy did one for his last year where the profile of the car is very thin, like .125" except around the axles. Then, looking down from the top, there were all kinds of cuts that allowed the wood to be steam bent and the weight was added to one of the "tongues" sticking up. Basically it had suspension so, the weight wasn't being "lifted" over every imperfection in the track.
It was damned fast but Jake wouldn't take the first place cause he felt like he "cheated" for getting a design off the net.
He took some award for most unique or some such thing.
Dads had an unlimited category to help discourage them from doing too much to the kid's cars. It seemed to work pretty well.
The field of competition wasn't exactly even.
My car was built of delrin with .06 wide delrin wheels riding on abec 6 (iirc) ball bearings. The weight was a cylinder full of lead shot and was suspended by a leaf spring. When the car hit the bottom of the hill, the leaf spring collapsed and then sprung up and seemed to shoot the car down the track. The breaks at the end of the track wouldn't stop my car and I had to sit down there to catch it as it launched off the end of the track.
The funniest part was the wife of one of the other dads who is a mech engineer was crying foul. He shut her down pretty quickly asking for a re-match the following year. Being as that was my last year in the pack, alas the rematch wasn't going to happen.