I have this argument all the time with my other team members as well as most of my friends. Here is how i see it...

If you have two identical cars say 2 Chevrolet Camaro RS's both with 350ci engines same options etc..only diffrence between the two cars is one was tuned with High Horsepower in mind and the other one was tuned for High amount of torque. I believe that if these two cars were to race on the 1/4 mile the car with more torque would win.. The way i see it is torque is the amount of power turning the wheels it does not matter how much HP you have if the torue on your car sucks. I truly believe that if two identical cars meet on the track the one with more torque will win hands down everytime. I myself have beaten cars with more HP then mine just simply because i had a higher ft lb of torque then they did.
What do you think is more important Horsepower or Torque?