The E-brake is a little bonus they threw in for those powersliders among us. If used properly, and with enough percision, one can run through a corner at amazing speed. Its most useful for hairpins and rally turns. My old roommate could slide through the first turn at laguna seca at over 150 mph in a viper. No Joke. This is of course the speed of the wheels. The advantage is that your car accelerates hella fast because the engine is already spinning. (you NEED a manual tranny to do this) and you exit speed is phenomenal. On rally races, it's very useful because your coefficient of friction is much less on dirt than on asphalt.
Takes LOTs of practice to get right, and lands you in the wall/sand if you mess up