[Jeff Lee]

1320 / MPH = optimum ET.
Using your numbers, if you had slicks / suspension / convertor sorted out for drag racing (not street / strip) and without lifting the hood, you should be capable of running 15.20's or .400 under the index. Keep in mind slicks may be a lower profile than your street tires (you still are on street tires, right?) which will not only aide in traction but will give you a lower gear ratio. That right there could get you in the 14's.
This is the exact path I had with my street '87 Dodge Dayton Shelby Z (2.2L inter-cooled turbo). It had a MP computer and a cat-back. It ran 15.40's with Radial T/A street tires and poor traction. I was already about .400 under. I added slicks and tuned the waste gate and boost, an open exhaust and air filter, advanced timing, race gas and Koni shocks with M/T slicks was good enough tho set the B/FS record @ 14.17 without ever having the valve cover off the 75,000 mile engine.
I then rebuilt & blueprinted the engine with gapless rings and refined the a/f mixture and set the A/FS record at 13.26.
I say you go for it and I hope you can dedicate your energy into it for a lot of fun. Ideally it's not your driver (like mine was).
Good luck!