I found the solution I've been looking for so I can have a slot car track but keep it portable as well and store it away since I'm not currently active in the slot car hobby at this time.  It is hard to imagine that this is what basically comprises of my slot car collection.

Here you'll find a unique HO slot car set that's portable and folds up for storage when not in use.  It runs on 4D batteries and includes thumb controllers for each lane.  The set is made by Spirit Toys and features two unique HO slot car Formula 1 cars with small guide flags instead of a guide pin with normal pick-up shoes similar to other HO slot cars.  Once you unfold it and put up the supports, the center fits together so you won't have any gaps.  The slot is slightly wider than standard HO track so you will have some problems with standard HO cars unless you modify them.  A simple mechanical lap counter is integrated into the track along with two cross-over sections.

NOTE:  This was purchased from a retail catalog a few years back and do not currently know of any sources for this set.  I only have one for myself and no extras available.

UPDATE:  There are now larger scale about 1/43 portable folding sets out there with the same concept but use generators as controllers for crank power.  I have not personally tried one out so I can't comment on the pros and cons of them.