I watched the Motorweek show a couple of nights ago where they did a head to head on the STi and Evolution.
Here is a summary of the test:
There is also an article in the Motortrend Magazine, road and track, etc.
Stats:
Curb weight for both vehicles is identical = 3260 #'s
Horsepower ratings at the crankshaft (NOT the wheels):
WRX STi HP=300 TQ=300 but torque peaks around 4K rpm.
Evolution HP=271 TQ=273
Track times:
WRX STi: 1/4 mile in
13.8@100 MPH; 0-60 = 5.1 sec
Evolution: 1/4 mile in
13.8@101 MPH; 0-60 = 5.0 sec
Ok, there's the matchup. Both AWD. An SVT will probably weigh in about the same weight as these cars, but without the AWD. 0-60 will be hard to beat without good traction and equal or greater power, but could be done.
1/4 mile has already been equaled by wavrdr in his 5psi contour!

Great Job! Remember, he has only got 240HP currently! Of course I don't know the altitude he is at versus where they ran the testing at, but that will play a role in the 1/4 times. AND of course there will be variation from car to car, but this gives a decent target value.
So can the SVT beat them? With a well built high-compression 3L hybrid it might be able to run with one and possibly take it, but mostly not. NO stock SVT or N/A 2.5L other than all-out racing engines/cars can do it. A turbo 2.5L should certainly be capable if its tuned well and running decent power.
So I and a few others were pondering what it takes to whip one good. I of course would like to think that my car can do it now.
Look at my basic engine. I have 300HP at the wheels in street trim, 264 TQ! I have as much power to the wheels as a WRX STi has at the crankshaft and my 1/4 mile trapspeed was 102.59 MPH BEFORE I built the transmission and BEFORE I put the intercooler on and only 6 psi.
You do the math, but IMHO in the 1/4 I should be able to easily beat the WRX STi with my currently built motor and trans IF I were a good driver. This means that anyone with a well-worked set of heads on a stock 3L block and a good turbo should be able to drop 300 HP at the wheels. With forged rods, pistons and about 9:1 compression you could have a monster 400+ HP street car that would OWN STi's, modded ones even. I'm expecting to dial in another 30-50 HP at the wheels once I put an ICE tank in the trunk and maybe another pound or two of boost, possible I can do 400HP if I go 10psi. If the rods and pistons hold, the sky's the limit.
Tom