Traction control deals with traction in the direction of the car (for the most part). It does not help that much with oversteer.
The difficulty with the CGT is that it is built with very little inherent understeer or push. Normally street cars are set up by the factory such that, when you get into a corner too fast, the front wheels loose grip first. The driver feels this when the steering wheel "goes soft" or becomes easier to turn. Most driver's natural reaction is to lift off the throttle which transfers weight from the rear of the car to the front, adds more front grip and thus allows the car to turn (while also decreasing speed). In control terms it is positive stability. The natural reaction helps correct the problem.
The CGT (and the third generation RX-7) are very neutral cars. If you get into a corner with sufficient speed and maintain throttle input at a reasonable level, both the front and rear will start to drift in unison. Very slight changes in throttle will allow the driver to maintain this balance and thus provides the best use of available grip. A slight lift allows the car to rotate while increasing throttle allows you to open up the corner. The down side to this that the natural reaction of most drivers is to, again, lift when things get strange (tires start to slip at high speeds). This natural reaction by the driver really lets the car rotate and, unless you have very good reactions, this rotation continues in a PCGT. The car is very stiffly sprung which gives it a small time constant. The corrections for oversteer, free or loose must be input very quickly and removed just as quickly. If you have ever seen Montoya deal with an F1 car stepping out in the back you know what quick hands look like
The concept of "never lift" sounds like testosterone filled bluster but there is actually a grain of truth to it.
The US has mandated traction control or stability control on all new vehicles. The spec that governs compliance is FM-VSS 126. One of the tests literally attaches a steering machine onto the steering wheel. The test driver then accelerates to the test speed and the machine yanks the wheel one way, back the other, pauses then back straight again. This simulates an emergency drive around maneuver and tests a car's susceptibility to oversteer. In MS' case, the application of rear brakes can help a little but the real way they manage the pendulum affect of these types of maneuvers is to use more rear negative camber. When the car starts to swing out, it loads the outside rear wheel which pushes more contact patch onto the ground and thus help arrest oversteer. When Tesla stiffened up the rear of the car with stiffer bushings, they rebalanced the sway bars and went to staggered rims/tires to put more rubber in the rear.
If memory serves me, the CGT was based on a Le Mans chassis. This racing heritage may have a lot to do with its neutral nature. Porsche is coming back to this series with Mark Webber next year. It will be interesting to see what they field.
On a personal note, I learned to drive ChampCars by inching up on a balanced car. The very best example is starting off at Road America braking and downshifting a gear before the kink. I put understeer in the car such that it pushed all the way through the carousel and then went progressively faster through the kink that followed. I'd just had the car pushing through the previous corner so I knew the back would not step out on me. I continued to go through the kink faster and faster with the steering never getting lighter. In fact, I had to wedge myself in the tub so I could turn the wheel. The result was 171 mph through the kink at about 4G lateral and a three second drop in my lap time (carried that speed all the way to Canada corner). The next step, if I were a pro, would be to slowly dial out the understeer in the carousel thus allowing me to exit that corner a little faster. Moreno had about five miles an hour on me through the kink which is an eternity.
Here is some back to back data as I learned how to get though fast corners without lifting
http://www.lolachampcar.com/images/Performance/Road America 03 v 04.pdf
This is what happens in that same corner with oversteer (K. Legg lost the rear wing flap)-
Katherine Legge crash Road America 2006 - YouTube
Katherine walked away which is why I moved from aluminum honeycomb GTP cars to carbon ChampCars.