Wheel horsepower has no bearing on the E.T. of a car, the E.T. is generated by traction (tire, suspension and weight distribution), gearing (transmission and final gear ratio of the rear end), and torque converter that is all matched to the torque characteristics of the engine (if it's an automatic). Take all of these variables and the weight of the car plus the current weather and you will determine the speed of the car at the end of that quarter mile run.
E.T. will vary dramatically from car to car with the variables stated above along with the state of tune in the chassis and drive train.
In other words, if the same engine was taken out of that car and put into another one that weighs the same, the M.P.H. will be pretty much the same but the E.T. will be different.
