Tokens can be delivered, traded, bazaared and AHed (did all four). Sold one of the retired Tokens for 100k on the AH the first night they where available, but generally I don't find it worthwhile my time, especially since I don't know the overall interest in them. The only time I ever saw a Token in a bazaar was when I had one in my own.
500g exchange is too few, one can make more via other ways.
The free races follow an eight races cycle, for Windurst it's:
SuperTrio, MeteorBrian, IncredibleLeg, StarOnion, NoSuper, StarOnion, NoSuper, NoSuper. Rince and repeat.
For the other towns the cycle is similar but instead of the first NoSuper there is another race against one Super (can't tell you the exact order, I normally don't race San d'Oria and Bastok).
So it's generally better to race in Windurst, since the base Chocobuck gain is two Chocobucks higher (28 in Windurst, 26 in Sandy and Basty, figuring that your Chocobo can always beat the NoSuper races, but not the Supers themselves).
And if they didn't change it, the Circuit standing is calculated on Tuesday (the day the Circuit got introduced).
ChocoToken's availability doesn't seem to be depending upon the current trend (dominant, etc), but rather overall standing (determined once a week). I can get 100 ChocoTokens when Windurst is leading the standing, no matter the current trend, I can't get 100 ChocoTokens when another stable is first but Windy is highest in the current trend.
A three way head lock might open up the plans for everybody.
And in my experience there is period on Tuesday (might even go on till Wednesday), where the current trend isn't given, like with conquest, there have to be a few wins or losses first.
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