Actually, a freind of mine runs a worked, turbo-Hayabusa, with nitrous at Atco dragway. The problem is that as pointed out earlier here, you CAN have TOO MUCH power. The ability to directly translate the extra power into lower E/T's is the secret.
He has three drag bikes, two Hayabusa's and a GSX-R bored to 1500cc. Two with nitrous, one with turbo. The bikes run high 8's to low 10's depending on the weather and track prep. Bikes are very hard to hook-up and get a clean run (especially with stock frames and only extended swing arms). So yeah, I think it's easy to have TOO much power.
I Said, there was no such thing as too much hp....I didn't say there was no such thing as too much for the application! But it would still be a lot of fun to play with. I do agree with you Katshot about it being very difficult to hook up but I've always liked over the top toys!