First of all it is a 30+ year old design and no matter what settings you choose it is never going to feel as planted as a modern sports car. IMHO that is what most of us drive an Elan.
Here is how Rohan has his racer set up:
Front Toe in 6mm --I find I need this for high speed braking
stability especially on bumpy tracks.
Rear Toe in 2mm --The chassis and rear suspension arms are standard
and have not been adjusted they are the way it came.
These are measured as total toe in and are calculated as half the
track difference between the front and rear of the wheel at the rim
diameter.
Front camber neg 1 degree.
Rear camber neg 1.5 degree.
These are the result of slightly lower suspension height settings
than standard. The suspension arms and pivot locations are standard
just plastic bushes to replace the standard rubber one.
With driver on board
Front ride height at 110 mm
Rear ride height at 120 mm
These are measured with Yokohama A032R 175 x 60 - 13 on 5.5 inch
wheels with 260mm rolling radius at the bottom of the body sill just
behind the front wheel and just in front of the rear wheel. The
suspension is approx 10mm rear and 20 mm front lower than standard
and the wheels 20mm smaller rolling radius than orginal thus the 30
to 40mm lower ride height.
Springs are
Front 150 lb/in
Rear 115 lb/in
Roll bar 22mm ( 7/8 inch)
I also space the rear bump rubber approx 30 mm closer to the top of
the shocker using a 15mm nylon spacer above and below the bump
rubber. This stiffens the rear as you roll into a corner and also
stops the top of the shock chewing up the bump rubber. I run CV
joints which removes a little bit of roll stiffness from the rear
suspension compared to the donuts.
Bump travel at the front is standard less the 20mm lower suspension
travel. Bump travel at rear until it first contacts the bump rubbers
is approx 40mm less than standard with the 30mm spaced down bump
rubbers and 10mm lower suspension setting. Droop travel at front is
set by shocker length ( I use TTR racing front shocks). Droop travel
at rear is limited by a flexible steel cable to approx the orginal
setting. The Cv's will allow lower droop than the donuts but they can
start to bind at the full droop they allowso you need to limit droop
a little.
I run around 28 psi in the yokos with about 1 psi more in rear than
front. Many years ago when I ran dunlop formula ford slicks I would
use 23 to 25 psi for them. Others seem to like lower tyre pressures
than I do.
I have found that the Elan is very sensitive to tyre choice and pressures. I can recommend Michelin XAS FF 155x13 but they are not cheap, then again they are the only things that keep you on the island