Actually for normal road drops I'd point them down a little bit, but since track drops (especially the eighthinch ones) tend to be a bit shorter I usually place my hands right around where the drop starts to curve upwards, giving me a slightly tilted angle (kind of like ergo drops). To each their own, I guess.

Occasionally, I'll place my hands on the outside of the top curve, palms facing forward, kind of like if I were doing curls with a barbell. It's not particularly comfortable for extended periods of time, but at least it will give my hands a break. If all else fails, I'll just sit up and ride without my hands for a little bit, as long as no one else is really around. In all honesty, the eighthinch drops and most track drops in general don't excel in the versatility department, and I can hope that all of us who purchased and use track drops do so with this in mind. I'll say this again, I spend the vast majority of my time in the drops.