Chris @ Esmeril has an RX-8 running at 490hp and 330ish ft lbs. And that's on a built Renesis. There are 3 rotors and 13b's putting out high torque as well. When put in a light car with a low center of gravity and 50/50 weight distribution, rotaries can perform admirably in racing conditions.
They also make pretty good dragcars...
http://www.youtube.com/watch?v=Au7F2ttEXWU