Slotted rotors can assist in outgassing your pads under heavy braking. They can also help slightly in shedding water and debris.
Cross drilled rotors can help outgas your pads and cool the rotors. However even high quality drilled rotors generally shouldn't be used on the track as the drilled holes are susceptible to cracking. Low quality drilled rotors could crack during normal driving.
Between the two if you want the rotors for performance reasons you should probably opt for slotted.
The quality of the rotor is important in regard to how well it resists the stress of high temperatures and how well it cools itself. The higher performance pads you choose and the harder you are on your brakes, the higher the stress on your rotors. Low quality rotors can warp or worse from high temperatures.
There are several quality oem replacements to choose from. They theoretically will resist high temperatures better than the stock rotors.
Edmunds has a good article about what happens when you take the stock rotors and pads to the track.
Long-Term Road Tests - Civic Si shreds the track and its brakes
As far as the part about embarrassing M3's, that I can't endorse...