I generally run and extra 1/2 quart. I've seen where the oil line is in my SHO as I rebuilt the motor. I could probably run a quart over and still be okay, even if all the oil were to stay in the pan. Since the oil level will be slightly lower when the car is running, due to the fact you're pumping it through the motor, I would say in MOST cases a half court is just fine.
In my buddies '97 M3, it is common practice to run an extra 1/2+ quart while tracking it (road course and autoX) to avoid the dredded ticking from the lifters.