Finesse, you'll get it. Slower is faster in the buggy/truggy class, actually all classes. Staying in the groove without being marshalled is the trick. Speed comes later.
+1!
Slower is faster. The trick is to keep up a consistent pace without being marshalled. You can push truggies a bit harder than buggies but you want to stay just at the top of your comfort level.
As an example, like Scrogg I'm a club-level racer. I'm currently racing in the Puget Sound Fast Boys RC Point Series Challenge which is a 6 race series. Three 5 min qual heats, 30-min mains each race. Because the qual heats are so short you really have to push it to place well for the mains... and I usually don't qualify well since when I push it I end up on my lid and getting marshalled a lot. But in the longer mains I do much better since I can stick to a slower but much more consistent pace. Shockingly I'm somehow holding 6th place overall in points (behind 4 pro drivers!) after 2 race series. I'm not the fastest out there by any stretch of the imagination but the consistency makes a huge difference. However, I'm slowly managing to shave my lap times each outing to where I'm creeping up on the pro's times as I'm getting more experienced. More time on wheels=more easily gained experience.
As for the setup, there are so many things you can change that will affect your performance. What Scrogg lists for minimums on servos is solid advice. I would only suggest a higher torque servo for steering on truggies since the tires have a larger contact surface and need that power to turn easily. 300oz+.
The largest changes in performance and handling are (in order of effect) tires, shocks, suspension, diff, engine. Talk with the fast experienced racers and ping them for a good overall setup. Race it a few times & then make small adjustments from there. Find the right tires for your track, then make small adjustments to your shocks, then suspension, etc etc.
For tight, technical tracks you'll want a gearing setup with lots of low end. If your track has lots of longer mid-high speed sections go with a mid/high end gearing setup. Top speed is rarely hit on most tracks.