I'd have agreed with you ten years ago but 1000+hp can easily be streetable these days. Just look up coverage of Hot Rod's Drag Week. Granted some of those cars are a little over the top for what I'd call streetable but many are running big power numbers with 3-spd autos and a Gear Vendors unit. One car ran low 9's, averaged 38mpg over the 1000 mile drive, and the owner said he drives that car everywhere on sales calls. Another had 1000hp and got 25mpg. Sophisticated forced induction has allowed some huge power numbers in a docile street car.
As for tranny's, Glides are great for the racetrack but unnecessary for the street with all the options out there.
