i have a adjustable sway bar on the rear of my FB. there are 3 different holes on each side for adjusment. what differences will adjusting it make?

 

Using the holes away from the tips of the bar makes it tighter, the rear will have less compliance and will induce oversteer.

 

Yeah, stay away from the stiffer (inner) settings unless your car is fully prepped. I've got all new coilovers and shocks, bushings, etc. And I've just gotten to the point (with race tires) that I can run the stiffest setting.

Basically, the farther from the end you get, the more "tail happy" the car will be. Have fun!

 

right now the bar is set in the middle holes.

what would be the best for drifting? the inner hole? what about drag racing?

i have tokico blue's all the way around, prothane bushings, ST adjustable sway's, limited slip and eibach pro kit springs.

 

The iner hole will make the car more tail happy than it is.

Drag racing I doubt you would feel any difference on any adjustment since both wheels are moving the same direction(up) when you launch. You don't have a bunch of torque to twist the body on the suspension so you probably won't need to preload the suspension and make the car lean at rest so its level when you launch.