Well, I'm not an expert but someone putting 1000hp to the ground on pump gas is hard to believe. It can be done but not easily and is very expensive. I have had 2 Camaros in the 400hp range and I had some issues running pump gas but mine were not turbo, they were N/A. Back to the point, be careful!! You will be hard pressed to take him on a rolling punch if the car is setup right. Like the others have said, see if you can get him to run at a track instead of the street. Is his car setup for the strip or for top end? If it is for the strip, he will be hard pressed to break 160-170 i think. If he has highway gears, he might just walk you. As far as running without cans, I think you loose low end but gain a little on the top end. The experts here could tell you more I'm sure. Either way, I think running him for anything more then just fun and on a track would not be worth it.
It's very easy to pull 1000hp out of a camaro or mustang on pump gas. It just takes money. Go the TT route and you'll have it pretty easily. Like I said, it's expensive, but if you have the money, it's easy to do. I've seen plenty of kits for sale, and cars with them on it that are pushin 1000+ on 93 octane. You're right in what you said about the N/A stuff. You'd be very hard pressed to get that kinda power out of an N/A engine on pump gas, but turbo and TT is a whole nother ball game. Oh, and by the way, they'll fly. There's a 1000-1200hp supra runnin around here that can run with turbo busas. . . Good luck, but I'm givin this one to the camaro as long as he's got the rubber, suspension, gear and driving skills to do it.