For a bigger race, I'll take off the day 2 days before. The day before the race, I'll go on a relatively short, very easy ride. Maybe 10-15 miles to get lunch or some other sort of easy ride.
It doesn't work any magic, but it does seem to keep you 'loose' for raceday.
On raceday I need 12-15 miles prior to the start to feel like I'm ready to go. I think I take a little longer than most, but this does make a difference for me.