Here's a video from Drag Times pitting a 700 PS (515 kW / 690 bhp) supercharged Chevrolet Corvette Z06 against a 1,024 PS (753 kW / 1010 bhp) Koenigsegg CCXR.
Despite the predictable outcome, it's safe to say that a single race between these two opponents is hardly definitive. However, for all of you horsepower happy spec crunchers, it's a good example of how horsepower is only one ingredient of the whole recipe.
Perhaps, under different conditions, and a better setup (e.g. lower tire pressure, better tires) the CCXR is fully capable of obliterating the ZO6. But in the video it looks like the CCXR cannot get all of that horsepower down to the ground effectively in addition to having a bad reaction time to the light tree.