if he's the base prelude with 5 speed, ur dead. if he has the SH, cuz its supposedly heavier cuz of that system it has for better turning, than... u wont get crushed, but u'll still lose. and if he has the automatic base model, u got him. my friend has a prelude with automatic with an intake and a tanabe G medallion catback exhaust and his car got stomped by my friends Integra special edition 5 speed(which has the same motor as the LS or GS or RS), and all he had on his teg was an exhaust LOL, not even catback, just muffler. now the V6 accord is slightly faster or as fast as the integra from what i remember when my friend had that teg raced a 6th generation V6 accord coupe. so if he has an auto, yes, u should win... but than again, u said racing chip, i dont kno what that means, need more detail, but probably nothing considering he doesnt have anything serious beside basic bolt ons. taking out your cat will give him some added High end power(so the place ur racing, is it like a long straight away, and how long is it?). he'll lose low end cuz of the cat tho i think. hope i can give u some ballpark insight. and mods, to help u? MORAL TO THE STORY: thats easy, get some nitrous, and u got him... my friend with a 1998+ 4 cylinder accord coupe, all he had was CAI, exhaust, headers, 5 speed with 18' wheels on, and he ran a consistent high 14 sec 1/4 mile... that should be somewhere ur friend might be at, if he has the base 5 speed prelude. so get nitrous, and i wouldnt worry. that'll be a little over ur budget of $300, if u get a used one.