Sure CaliforniaCuda, it's really pretty simple.
I use the cube root of the ratio of "new" horsepower (HP2) to "old" horsepower (HP1) and apply that to the "old" speed or et variable I am trying to get an estimate on. Multiply for speed, divide by for e.t.. Obviously this is only an estimate, and necessarily assumes all else (weight, traction, barometric conditions, Cd, no rpm limited speeds, etc…) is held constant.
e.g. for Joe's GT
Stock GT: 550 RWHP, 11.9 et, 212 top speed (unrestricted, not quarter mile trap speed)
Estimates for Joes GT:
et: 11.9/(1453/550)^(1/3) = 8.61
top speed: 212*(1453/550)^(1/3) = 293
Drag increases with the cube of speed, so I initially used this only to estimate top speeds. I subsequently found it is also provides a reasonable estimate for et’s. For example, I used it to estimate the performance changes in the BMW 5 series as they went from the E39 540i sport, to the E39 M5, and then the E60 M5. The estimates proved to be quite accurate. I have owned, and derestricted, them all. I have verified the speeds of the first two, as have many others. I have not tested the E60, although the factory published a test of a unrestricted E60 M5 at 205 mph.
Actual performance data:
E39 540i sport: 282 hp, 14.7 et, 168 mph (unrestricted)
E39 M5: 396 hp, 13.2 et, 189 mph (unrestricted)
E60 M5: 505 hp, 12.3 et, 205 mph (unrestricted)
Estimates, working up from 540i sport:
E39 M5 et: 14.7/(396/282)^(1/3) = 13.13
E39 M5 top speed: 168*(396/282)^(1/3) = 188
E60 M5 et: 14.7/(505/282)^(1/3) = 12.11
E60 M5 top speed: 168*(505/282)^(1/3) = 204
Pretty cool huh?