My brothers 5.0 coupe ran 7.2 at 97 mph at dallas with a set of ported gt40heads a cam and 100hp nitrous kit. Thats a very low 11second maybe even a 10second timeslip.
If you want it to handle, check out Maximum Motorsports, or Griggs Racing. If you pick up a cheap fox and throw one of the Maximum motorsports track kits on there, you wont find many things that can touch it.
Matt