To be able to get this thing finished everyone should agree to the meaning of certain terms.
To start I will bring up Grip, Traction, Slip, and Sliding.
Now this is what I believe they mean:
Grip: When a wheel is not slipping or sliding at all (no smoke) it has grip, although during cornering a slip-angle may be present (ie the wheel appears to be pointing in a different direction then it is traveling but there is still no smoke or screeching). A tire will run out of grip long before it runs out of traction. F1 however is special because the tires are designed so that the grip of the tires continues right up to the limit of traction.
Traction: Used to describe the limits of force transmission between the tire and the ground. For example most tires produce the most traction for acceleration when they are slipping slightly, producing very little smoke (chirping). Also during cornering the very limit of traction will be when the tire is slightly slipping. When you pass the limit of traction any additional force is wasted and the current force allowed is not the same as when at the limit (alot less so normally).
Slip: When a tire slips it produces small amounts of smoke. Slipping is what happens when a tire is right at it's maximum traction level.
Slide: When you exceed the traction limit of a tire you slide, losing traction and control. Burnouts are an example of sliding during pure acceleration.
D1 championship slides the rear tires to produce their drift, while the front tires grip and are well within their traction limits.
Real drifting that allows you to drive the fastest is about maintaining all 4 tires at their limit of traction (hence alittle slipping and little smoke). The mastery is combining cornering and acceleration and deceleration forces without passing the limit of traction, the closer you get the faster you are.
Now in my mind power sliding is using the force generated by the engine to exceed the tractive limits of the back tires so that the car exhibits oversteer, which needs to be maintained and controled by counter steering and throttle control.
D1 does this but takes it to another level where they maintain the powerslide through a series of corners. Hence D1 is actually glorified extreme powersliding, not drifting. However rally racing where cars take corners with oversteer is not powersliding, it is force vectoring. Rally racers need to get the car into oversteer because on loose ground (which allows low levels of grip and traction) you need to corner by using the radial force retaining abilities of the tires instead of the axial.
Power, whether measured as HP, PS, or KW is what accelerates cars and gets it up to top speed. Power also determines how far you take a wall when you hit it
Engine torque is an illusion.