You'll win - not by much, but you'll win. You have to remember that the only thing you're changing with the 3.73s is the ratio of the number of turns of the driveshaft to the number of turns of the rear wheels. You aren't magically creating more torque - torque transfers are limited by the efficiencies of your powertrain - you're just simply trying to keep your engine in the powerband by changing what RPM you're at for a given speed. Think about the situation you proposed: Two cars with identical mods and torque curves - one with a 3.27 and one with a 3.73. If you're both running at say, 40mph, then the car with the 3.27 is at ~3400RPM and the car with the 3.73 is at ~3780RPM (assuming both cars are running a 285/35/18 tire). So the instant you both go WOT, the car with the 3.73s will be putting slightly more torque to the ground - assuming 1: the tires don't spin, and 2: the engine creates more torque at 3780RPM than at 3400RPM - which is obviously true for our 2V 281s.
The thing that's interesting about that situation (and the thing that always creates controversy about proper gearing) is that now the guy with the 3.73s has to shift into 3rd earlier than the guy with the 3.27 - and that shift is going to drop his engine RPM to a point where he's making less torque than the guy with the 3.27...but to answer your original question: yes, from a roll in 2nd, you'll beat him to 3rd.