I've never been to a PDX, and should probably go, but I've been to a few Solo2 events. It's the same general track layout. The primary difference is that PDX is a schooled event, and Solo2 is a time-trial and competition/points event.
It's a lot of fun. They will teach you how to walk the course, how to read the cones, what a pointer cone is, what following a line is, how to read the course, etc. You won't have a time trial as much as the instructor will try to teach you the proper techniques for getting around the track, how to read your car for tuning later on, how to do course work, etc. PDX is designed for people who have never had any exposure to organized racing and need all that info so they can race against the clock.
Things you will want that I learned the hard way:
1) An approved brain bucket, unless you want to use the communal ones
2) AUTOMOTIVE masking take 1" wide for making numbers on the doors
3) A trustworthy tire pressure gauge and a portable air compressor
4) Multi-color sidewalk chalk for marking your tires
5) Sun Screen and/or hat if you are so inclined
6) A small cooler with snacks and non-alchy drinks (alcohol is a no-go)
7) Anything loose removed from the car or easily removable at the track
Make sure your car is mechanically sound. No visible leaks, loose components (like batteries), weak/bloated hoses, bald/cracked/bulging tires, etc. Make sure the masking tape is automotive grade tape! Regular masking tape can leave glue residue on your car. Depending on the track and who is doing tech, they can be VERY picky about loose items in the car. If you have big subs that aren't securely held in place they will want you to pull them out. Usually you will want to clean the car out to only have what you really need or that can be easily removed. This also lightens the weight of the car which helps. I have a big comfy beach chair that I will bring in case it's a big turn-out so I can sit and watch and wait for my heat to get called.
Now some caveats:
1) This can be very hard on your car. You might break things.
2) Your car insurance definitely does not cover anything at these events.
3) Pay attention and don't be a hero. You can easily get hurt or hurt someone else.
4) You do not just show up, race, and leave. You will also be doing Course Work, and learning about SCCA too.
5) Don't act stupid in the pits, staging lanes, or outside the grounds. It pisses everyone off and the owner of the location could deny the group if they try to rent the place again.
6) You will probably get 5 to 10 runs in 2 heats. If the group is small then half will be on track and half will be doing course work. Just depends on the size of the track, number of people, etc.
7) Listen at least twice as much as you talk. Half of the guys you will meet there have been racing for years and most like talking shop.
8) They won't be teaching you how to do stunt-driving. They will be showing you how to drive fast. Although I usually do find at least one spot in the course that screams power-slide
Overall it's a lot of fun. It's about the only time you really get to drive your car all out safely and in a meaningful way. You will also learn a lot more about driving your car then you thought. When you leave you will have a better understanding of just exactly what your car can and can't do with you behind the wheel and how it feels at those limits.
Plus, I call it "Road Rage Therapy".
The LS does very good but lacks in a few things. Most notably is lack of a posi rear. On any sort of an extended or french turn where you get a good amount of weight transfer you will usually light up the inside tire. On a sharp turn or a hairpin it's pretty good since you are braking like mad coming into the turn and getting back on the power coming out into a usually straight shot of track. You'll want to turn off traction control and learn to feather the gas.
Second is the lack of power. Depending upon the track, you will either bog the engine down in second or hit the limiter. If you are lucky it's the first one. Some boost and 8.8" 3.73 or 4.10 gears out back would solve this nicely. I find the engine doesn't like to be below 2500 but this can be hard to maintain. Just avoid the urge to shift, it usually won't work out well.
Third is suspension tuning. Sport shocks with Eibachs seem to be the ticket for noticeable improvement here. I'm still running the stock sport springs but have things "in the works" so I will find out eventually. Mostly what I notice is a lot of lateral weight transfer. Swaybars and a lowered car should help.
Fourth is the soft brakes. Stainless lines, better frictions, and maybe the 320mm upgrade are good investments here. I know my stock breaks at the end of a medium-speed 1-minute track would start to get fade about 3/4 of the way through. Luckily this is where the slalom was and they would cool off while I zig-zagged.
If you get serious you will probably want to buy a set of cheap rims and put street-legal racing tires on them. This is the one thing that will make the biggest difference other then the driver. Seat time is the only thing that will improve that.