Oh I'm certain the Busa will do it but doing it and being competitive are two totally different things.
The power to weight ratio can't be calculated out.
The Busa would likely win...seriously.
The power to weight ratio is also very close.
Consider the average Busa vs liter bike(bike vs bike, expert riders on both)
They are pretty even in the quarter mile, then the Busa(or zx14) tend to start walking(aerodynamics).
Alot of the TT has room to approach and pass 200mph too. So a Busa given the engine treatment a Superbike gets, would eat the 1000's.
As for cornering, a liter bike might edge it out, but it would be so close as to likely not matter.
I hurt the feelings of a couple of Amature class local heros on the mountain, as their 1000's couldn't shake the Bus...and they got passed...by a guy who has never been on a road course.
In expert TT hands, lol, night night...the fat girl is gonna steal the show.