It's all relative.

Figure out a way to bolt a B18C5 to a go-kart. Then figure out a way to keep it on the ground and somehow keep traction. Race it against any stock two ton (figuratively) steel body muscle car and it will rape it.

Now, consider you have a 2.4L I4 and a 2.4L V8. Even with the same displacement, the V8 will have a lot more mechanical drag and reciprocating weight. This means less power out of the same displacement.

I do however feel that for absolute speed down the 1320, a FWD I4 car is not the way to go. It's all about displacement (and RWD for that matter.)