I think you bring up valid points, but many of them are also true of steel springs. Caltracks are used on
steel springs to control wheelhop, not just on FAF ones. The fraying ends may be a possibility (though steel springs won't have this particular issue), but I've not noticed any. Some lateral movement is also likely (like on steel springs) since today's tires allow much more grip than these cars were ever designed for (at least on the track), but there are ways like panhard bars and/or spherical bushings to deal with this issue.
Here is a Camaro example, but Carl Cassanova used teflon lined spherical bearings instead of the poly FAF ones to reduce roll bind and torsional loads. He seems to have had some success with them. Scroll down to the bottom for his writeup. Again we are talking about more expense, but this expense would be similar in a comparable steel suspension (like the GW cat5) or you would have to go to a more complex system like a multi-link or fully caged one.
It may depend on the car setup and how much "decent hp" is but I've not had any wheelhop issues, even when doing burnouts, or fraying of the spring even when cornering hard. I do periodic checks, though. For my intended use (spirited street, maybe a little track), these springs have worked well, but I could also have gone with the cheaper Mustangs Plus spring package and only sacrificed a bit of ride quality, eventual sag and weight. The FAF springs are not without cons, though, and won't be right for everyone. You are smart to do research before commiting that much coin! :SNSign:
Daniel