Some people in my area have wicked nitro rails... but like you said its going to cost you plenty...The race director has his on the store counter and its got stuff like a JP black and the cvec drag exhaust, but that is too rich for my blood. (especially if your not really going to turn)
No, I haven't seen one run, and won't until my old rs4 becomes a big block monster
b/c we run drag and circuit on different weekends.
(I've got to have a point to this and here it is,) if you don't have a couple people to race against, forget it. If there is an established nitro drag scene in your area, check it out. If your trying to convince your friends (and you know you want to do this) make a spec class so things can be cheap, equal and still fast.