I have a feeling your battery was not fully charged and that is why you only got 1500mah out of it. Unless your setup was actually overdrawing the battery there is no way to "pull the voltage out" without discharging the capacity. If your lipo is still working then I can only think the charge prior to running with hight setting ended too early.
We need specifics on battery brand and what charger you use...
C'mon guys... I ended up winning the whole club-race with around 15 paricipants (A-final places 1-1-2). Don't point out the obvious things :) The LiPo WAS fully charged when you charge it in a right mode with CC/CV :)
1500mAh is ok for 1380g weighing 1/10 sedan touring car with 17.5T motor. Modified class 5.5T uses no more than 3500mAh from 2S LiPo.
lincpimp - I haven't yet experienced it but you should be able to "kill the LiPo" with the high-frequency pulsing load. For an example using ESC without any caps. Those caps ease the life of LiPo by smoothing out the pulsing load that ESC is drawing. This could in theory bring the voltage down but you'd still have the capacity in. Stock racing lives on the voltage. If you drop the voltage by only a bit (0.2V for an example) you'd notice the difference easily. I have some suspicions about this. I will add external caps to try with and without them. My original problem was up to 0.5-1.0 sec for 11-12sec lap. For a basher you wouldn't probably notice the difference but when racing stock class it is huge.
I'd consider this topic closed for now. I got the info from Patrick. Thank you once again.
Until all relevant information is provided, nothing is obvious, especially in forums. Didn't mean to hurt your feelings asking these silly little questions in an effort to help you out.
Looks like you have this one covered all by your lonesome