Would a 27' boat be Ok around those times?

Rough? Nahhhhhhhh....

http://www.youtube.com/watch?v=cvAFR9dqlHk
(turn volume down first!)

It's rougher than corncob toilet paper. I'd go with JT's suggestion. I also applaud you for wanting to put out 2 anchors. Not nearly enough people put out anchors.
I wouldn't plan on getting them back though. Seems every time I've thrown an anchor out in a Missouri lake I donate it to the lake Gods. There's trees & rocks down there that eat anchors to survive.
Tip: Get out there early & get in position about 3/4 of the way down the track for the best view of the runs.

Ditto on the dual anchors and make sure you have enough fenders for both sides of your boat. The boats move around all day long and you can never have enough protection.

The best anchor that I have found for the shootout is to tie 2, 70 lb. sand tubes on the end of each rope (that cheap yellow rope is fine). Pull 25 to 50 feet past where you want to be and drop one. Pull 25 to 50 feet past where you want to be the other way, and drop the other one. Pull forward to where you want to be and you will be good. At the end of the day, just drag the tubes along the bottom. They will tear open and drop the sand, so all you have it the empty bags coming up. This held our 42 Gibson in place on a windy day a few years back. The sand tubes are cheaper than losing a good anchor and rope.

Ditto on the "get there early and 3/4's of the way down the track". The biggest spectator/party day is Saturday, but Sunday is also good.

I like the sand tube idea. Pretty cool. I really didn't even want to idle after the race since I'll be drinking. I'll find a sober guy to idle me into a cove I guess. Always logistics...LOL

I like the sand tube idea, now I just need to find some.

Most road construction signs are held in place by them.

No.

I did it many years ago in a 24' Baja. Slow and close to shore is how I lived to tell the tale.