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1/4 times don't have such a close relationship to horsepower. 1/4 trap speeds do.
Dynos are fabulous for setting a standard to measure against. Especially if you use the same one repetitively. Much better than track "times".
Track "times" are very dependent on track condition, weather, traction and driver variables. Dynos do not care who drives, reaction times or weather.
NASCAR, F1, NHRA, and every automotive manufacturer you can speak of uses dynos to test and verify the output of their powerplants.
But of course I imagine that many of you are much smarter than they are
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.