Ran 15.75 against a regular cab 4.2 XL shortcab 5 speed sunday- he ended up with 16.70. And he was nailing those shifts, too! With the '01 HPI motors, WITHOUT a chip, redline is 5000 rpm plus. If you don't think the 4.6L doesn't wind out with an automatic, you haven't driven one. Most catch 2nd so hard the serpentine screeches.
Wolverine, don't think for a second that your truck is in any way, shape or form "light"- even an XL short is quite heavy. Yes, you have 205 hp, but your power curve is nothing like a V-8's- I know, I've driven 'em, and they don't have a real flat power curve.
I love all F-150's, and I'm sure you have pride in your truck, but I know all that 98Screamers done to his, and quite frankly you don't stand a chance. Horsepower has nothing to do with launching- it's torque, and when that torque's available. As far as HP goes, it's 231 in the HPI motors, and EASILY 260+ with FIPK, muffler and chip. Throw in the 3.55 ratio and you've got a pretty formidable (and yes, heavy) supercab truck.

Oh- I used to have a 5 speed 4.2L, WITH the good rear axle. I used to get SMOKED light to light by V-8's!

But you guys should still race!