Just to add more confusion to the mix, I got this reccomendation from a friend who does a lot of closed course road events. His assertion is that there are two sepate elements: Braking Torque and Braking Longevity. Torque helps you stop faster and longevity lets you do it consistently from start to finish. They are separate. However, like suspension, changing one often changes the other.
His suggestion to check braking torque is simple. He said that you should pick your top 3 braking zones. Hit the brakes hard at speed, straight line of course. Don't worry about turn in for that lap. If you can lock up or kick in the ABS, you have enough brake torque. If you can't, you could use more. If you can lock up on 1 or 2 of your top 3, it's probably not worth it for more, since you're optimizing for a small section of the course. The rest of your zones should be easier on your brakes, and more torque won't help you.
There are two ways to increase torque: increase pad friction on the rotor & move the pad further from the wheel center. Increasing pad friction is: 1) pads with better bite, 2) Larger pads, 3) Stronger pressure on the pad. Move the pad further is a larger rotor.
Longevity is easy to look at by examining the brake wear from one event to the next and brake fade from start of session to the end. Since longevity and fade are largely about heat buildup, you can increase longevity by 1) Adding coolers, 2) Getting better rotors, 3) Increasing pad size.
There is also the element of ease of driving. Since it's not always practical to stand on the brakes, e.g. when you're doing a heel-toe, having more brakes than you need helps.
I'm checking down the following ordered list of brake upgrades. I'm on #3, and I'm able to hang with folks that have much more theoritical brakes. I'll be heading up to #4 & #5 as I learn to use more and more of what I have. Remember, as you move up in pad and rotor size, the cost of brakes goes up. I'm likely never to step up to the very expesive rotors. They are not worth the marginal improvement relative to the price per rotor.
1) Track pads
2) Front coolers
3) Basic rear upgrade (get to 80-20 ratio)
4) Larger fronts
5) Larger rears