[Tommy]

IMHO, peak horsepower matters most at top speed (e.g., trap time in the quarter). Consequently, it's not a factor in most street driving .... all if you obey traffic laws in the USA. Peak torque at the RPM you plan to be at when you want the most out of your engine is more important. In street driving a car as squirrelly as a Cobra, I'd say peak torque should be a big flat curve between 2500 and 5500 RPM. .... One man's opinion.

P.S.
There are two more times when peak HP matters. One is when you put it in your signature block on the forum, and the other is when you're trying to one-up your buddies at the cruise in.