Hi Trigga,
Firts off you need to decide what your budget is and which you'd rather do, 1/4mile strip or circuit.
A circuit car needs to be well balanced and handle well before you worry about going fast, and a circuit car needs more mid to top end power to be able to pull out of corners easily and have a higher top speed for those straights.
A drag car just needs to get from 0 to top speed as quck as possible. Top speed doesn't have to be and extra ordinary figure to get a good 1/4mile time, you just need to get there quickly. You may be up against a car that has a top speed 20mph higher than yours, but if it takes an extra 4-5 seconds to get there you will probably win. When building a drag car it needs to be as light as possible and as powerful as possible, weather it handles andd goes round corners is not important but you do need maximum traction at the driven wheels. If you wheel spin you loose time.
Buiding a car for the circuit and putting it down the strip with a little squirt of nitrous to help your time is probably your best bet. It is not possible to build a car specifically to do both and you cannot run a strip car round a circuit because it won't corner, but you can run a ircuit car down the strip it just won't be as quick as a purpose built drag car.
Good luck with it though.
