Like my dad always said, some is good, more is better, and too much is just right. But it's all in how you look at it, and power to weight ratio is more important than just a huge HP number. My little homebuilt 7 weighs 1300lbs, and with around 200hp has the same power to weight ratio as the original Hellcat, about 6.5 lb/hp. Sometimes that feels like plenty, even on 10" wide slicks.
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I took it to lunch on the slicks once, and drove it like I was on course, that was an eye opening experience to see the difference between it and normal traffic. Gotta love small towns where you used to be able to get away with stuff like that. My street tires are Toyo R888's and the slicks were a huge step up from that.
Kristian