I have 475 flywheel horse power. My car is set up for road racing. Add the road race suspension to my 16 x 8 in street tires and I get a 14.2. (4700 feet on a slippery track). On a highway I can KILL some really good cars. The 1/4 is a different story, for now.
I am really not getting my power to the ground. I didn't expect to, though. With slicks, I can drive much more agressively. I didn't even power shift, much less dump the clutch.
It really is about getting power to the ground. I have the power for high 10s at sea level. Do I ever expect to run high 10s with my set up? Not really, but it is not a drag car.
Go with a 351 stroker if you do drags. That will be cheaper than a 331 stroker. If you hook, the extra torque will help you.