This is in no way, shape, or form a break down of general physics. There are so many more factors than horsepower that play into how fast a car goes. Gearing, aerodynamics, weight
"Nascars" as you put it, actually have more like 850hp. The reason they only go 190 at Daytona / Talladega is because of a restrictor plate choking the motor to ~450, and have a massive spoiler causing drag, and have a final drive ratio mandated to 1:1 aka no overdrive. (S281 has a .67:1 overdrive) F1 cars are built and geared for extreme acceleration, not top speed. They have enormous amounts of downforce limiting the top speed, but they will still go much faster than 220. I don't know where you pull your info from...
http://www.catherineandken.co.uk/sti/tyres.html
http://www.supercars.net/cars/3159.html
The theoretical top speed of the S281 Extreme by these specs is 224mph.
Of course this doesn't account for wind resistance, but the car doesn't have a massive wing/spoiler in the rear... it's laying flat. He was going downhill; it's entirely possible to go 210, so get off guru's nuts.
you start off calling me wrong and actually contradict that by mentioning other points that I didn't mention, but now to show that I know what I am talking about I will elaborate.
First of all, it doesn't matter what the engine was tuned to put out, if a restrictor plate limits the engine to 450, its only 450. Yes at 450 HP a nascar's top speed it 198, and without a restrictor plate on a practice run at Talladega, Rusty Wallace broke the record at 228 however the car was dyno'd at near 800 hp. The fastest an F1 car was recorded without any engine restrictions was 244 and was putting something close to 900 hp to the wheel.
now regardless of weight even, you can make a graph with an x and y axis, one axis can be top speed and the other can be HP, now if you start to chart out random cars, this can be every care imaginable, street cars F1, nascar, for the amount of HP they are putting to the wheel generally corresponds to a close approximation to the slope x^2, close to being within 20% if the cars weight to power ratio is worth a damn.
Now if you noticed the slope their is something quite peculiar about it. Simplifying physics a lot I may add, the rule of thumb I mentioned works for a few equations in force actually one really. Every time you double your speed, you have to quadruple the hp to get you there, this is because not only is the vehicle fighting its own force at that velocity, it is also fighting that force equal again in wind resistance. The model I initially noted was based on a 2 ton vehicle, now at this model, 150 hp is required to reach 125 mph ( I was a bit off at first) and in order to reach 250 mph, you need 1000hp, now this is relatively true for most cars, now it is not absolute given aerodynamics and weight, but as I said if the power to weight ratio is anything decent on the car it will be damn near that slope.
start looking at the hp of certain cars and where their max speed is, after awhile you will begin to notice a pattern.