You are lined up at the light, rev your engine, light up the tires, and it's on - you change your mind and let off the throttle, the other guy keeps going and suddenly crashes into someone, dies, and injures the driver in the other car.

Who is liable for the accident?

You are, even though it was the other guy's car that caused the accident, you are liable for any damages for engaging in an illegal act - and the resulting felony. There is precedent in this type of case. I just learned about it in one of my law classes.

Keep it to the dragstrip.