A standard 2011 Mustang has a 5.0L naturally aspirated 412 HP motor and cost about 35 to 40K. That thing has a 2.3 or a 4.0 SUPERCHARGER matted to something larger than a 5.0L motor and cost 91 to 100K. It has more than 500 HP, and I am certain it has over 550 foot pounds of torque.
It's hard to see but I think this 2010 Cobra jet ran an 8.9.
YouTube - 2010 Mustang Cobra Jet SS/BA
and no, it probably can't turn to save your live, but it's not built to turn either, which is why it goes fast in a straight line.