THat's not to say it's impossible to make it work. You can do it with proper (massive) cooling and some creative heat extraction.
However- I'd put power absolutely last on the priority list when building up a track car. Tires, driver, wheels, brakes, suspension, safety, drivetrain, should all be placed before power.
2002 C5 Z51. MCS 2WNR TT2 coilovers, 18x11 Forgestars, 315's, yada yada. Built Z06 T56. Bolt ons. Coming soon to a CAM event near you.
2013 F150 6.2L. 9mpg.