F1 cars have about 240lb/ft of torque (takes till 8000rpm to get to 200lb/ft) and they are the fastest cars on the planet; because they have lots of BHP
Nuff said!
they are also extremely light weight and designed to cut through the air. Try using one on the road

Also I do believe they top out at 240mph so a Veyron would be the 'fastest' car on the planet

Ideally you need a good combination of both. Its how the power and torque is delivered is what's crucial to making a quick car.