Re: 42mm front sag
Yep, front springs are too soft, no way around it. You can ride it on the track, but you will have problems. Many things will influence how well it works (track, your riding style etc) but you can expect a couple of bad things:
1) Your front end is gonna be riding low. This will mean the bike turns easier, but is less stable.
2) you will probably be bottoming on the brakes into (at least) the slower corners. If there are braking bumps, and you are bottomed, it's easier to tuck the front and crash since the wheel will start chattering across the pavement.
3) Because you're running lower, an aggressive rider would be more likely to run out of ground clearance
If it's a smooth fast track, you'll actually have less problems on the brakes as you do not compress the fork as hard from high speeds.
A slow or bumpy track will be pretty rough.
You can improve the situation by focusing on being smooth, and maybe adding some compression damping. You can also consider dropping some rear ride height to make up for the lower front end, but this will hurt your ground clearance.