Here's a video of some recent drag racing. Click on the link below and then find the "play video" link. It's a video of an electric Datsun beating the hell out of a 300HP Gas Mustang. Nice comment at the end if you can hear it.
http://www.salezfactory.com/wayland.html
here's another link but it's really huge (120MB) so it's not for the bandwidth challenged but it shows a lot more of what the electric gearheads are doing out there. (and if you're into MegaDeth you'll like the soundtrack)
http://www.deadwarrior.com/downloads/Austi..._final_divx.avi