In most cases HP is what gives a vehicle top end power... when it comes to drag racing, that is what gives most vehicles advantage. Yes, there are high tq cars that you see racing but those vehicles always have high HP as well... If TQ was what mattered then diesel vehicles would win races left and right although they don't because they can't rev high and make enough top end power (HP). If you compare two similar cars, one that has 550 WHP and 450 WTQ and another with one that has 500 WHP and 550 WTQ or so, my money is on the higher hp cars... there are a lot more factors that come into play but when it comes to racing that is usually the case, in fact most large turbo cars give up a little bit of TQ for an increase in top end HP. As someone already mentioned that moves the curve to the right as well in the higher RPM's, where HP will be much more pronounced than TQ. TQ is very important but in the end it's about having a proper curve with HP at the top.
2jZ + RB26 + 4G63 + LS9 + N54 =