The stock pads are pricey - over $300 per axle. We've seen one pretty fast driver manage to keep using stock pads for about three years of track events (changing pads, obviously) but not hitting the upper temp limit. Certainly if you overheat them, they'll go away fast, and you may break down the binding material causing the pads to disconnect from the backing plate. He wore his down so that there was no pad material left to disconnect.... /images/graemlins/wink I believe that the stock pad - labeled a "Brembo" pad is actually a Performance friction compound....
For the track, Brakeman #3's are exactly what we recommend as the next step from stock. they are linear and quite forgiving. They need a decent amount of cooling, however, or else you can overheat them and they'll go away fast, too. The new compound - 3.5 may be a bit better - we only use them on the rear of the race car at this point.
After going through BM#3's too quickly, we swithced to Performance friction 01 compound and found them to be a longer lasting pad, but one that requires a bit more finesse - not one you can virtually stand on - like the #3s. however, we found we used them less, gained some speed, and they lasted 2 - 3 times longer for about 1.3X the price.
We are currently using PFC 01s on the front of the race car and I think we can get through 2/3 of a season on one set of pads. Rears - BM#3 - that's what we've found to work the best in our application.
Brake pads are always a tradeoff - they can be low dust, or they can stop the car on the track - it's a pick one situation.... We used our BM#3s on the street - mostly because I was too lazy to keep changing them, and hte cars turned more into track cars than street cars. I just dealt with the dust and the squeaking - never really bothered me. They did the job.