Hmmm.
If the Vett's a stick shift car, I'll give it a mid eleven at a buck thirty on the big end. His biggest problem will be, (If he doesn't have any track time under his belt) getting better than a 2.2 second 60' time. That, and the fact that he may not know how to shift that car like he stole it. This is where your car has a huge advantage. especially if you've got some track time.

GET SOME! You don't need 580 to the wheels to beat him. If you can get 430 HP to the wheels and get your 60 foot time under a 1.75, He'll be trying to catch your @$$ all the way down the track. He will then blow past you, just after you get the win light. "Hopefully"
Where do you live? Do you have anyone in the area to help you get things dialed in? You really only need three things...
Money: (hope you're single).

Parts: Data logger, Bigger turbo, MT DRs, airbags, LCAs, etc.
Track time/ tune.
Without the last one, don't even bother with the other two. Spanking this guy is totaly within reach. "IF" your willing to do what it takes.

Keep us in the loop. We love Corvettes. They taste just like chic...... OOOOOpppps. Sorry Tim!
Happy spooling.
Mike Barnard