If he has that bad of gears you should KILL him off of the line, Even with the higher stall it'll probably take like 4 or 5 seconds for him to hit the power band, maybe even enough time for your to hold him off. Go for it, you'll never know unless you try. Hell, it may not be tuned properly (incorrect jetting, timing) so you could very well beat him. plus those firebirds weigh something like 3500 lbs or more so you may win. Keep us posted!
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'84 Mustang 5.0 LX
My car