I've a good friend who ran a service rear in his '69 Z28 in SCCA and later IMSA races. He's told me that he had the rear end gears changed very often, before essentially every race, depending on the track and the speeds anticipated. I don't recall him saying anything about having to adjust for brake wear... I'd think there would be sufficient pad thickness to not be anything close to 0.005" tolerance... The pressure on the sides of the rotor should be essentially equal even if one pad was wearing faster than the other.