practice your launch in a parking lot somewhere, preferably where you know the owner. Rev to 2500-3000 rpm, and let out the clutch fast and smooth as you pour on the gas. You should get a hair of wheelspin and no hop. Practice your shifts on the street: quick and smooth is the key. You can poweshift to help beat him but you might kill your clutch/diff/axles, etc. Oh, remove your spare tire, pump your rear tires up to the maximum pressure on the sidewall, drop your fronts to about 30 or even 28, and try to keep the car cool when you run. If it's cooking in the engine bay you'll be slower.
BTW- I do a drag-type launch on some auto-x courses, and that roll resistor from Pole120 is great! It helps a lot, even on stock suspension.
