I agree, it's not nothing new to hear a 5.0 taking an ls1, traction problems can affect the ss, drivers...ect, crazier things have happened on the street, but lets be realistic,
a race takes place, both drivers gun it, 70 mph is but 5-6 seconds away, so could a near stock mustang pull on an ls1 until 70? probaly, like you said the power and aerodynamics take over from there, so its simple as that? if the stang doesnt have at least 275-300 at the wheels, its gonna get pulled after the cars lauch, 5-7 seconds after they started, maybe it would be a good race until 100 mph with a lightly modded stang and good driver, and trust me, an e-cam and exhaust isnt enough to put 275 to the wheels, therefore when these cars get rolling into high speeds, of course horspower is what wins, so there has been many people, including me, that have pulled a few stoplight jumps on f-bods making them look like fools, of course those never make it over 70-80 mph for me.
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Police package 5spd 90 Lx, Stock original motor, 3.27grs, BM fan, fms 10.5 clutch, D&D quadrant, and adjuster, ADS chip, 180 stat, mac cai, mac h-pipe, mac subframe connectors, ASP crank pulley, ripper shifter, 26x10.5 M/T sport pros welds. 246 hp according to analyzer 
Race weight: 3,120
E.t-13.57 with 26x10.50's e.t. streets. 1.88 60'
mph- 99.92 mph
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