I'm sure that it can have SOME effect, cause some tires are grippier than others so maybe you can pull off having a higher tire pressure if your are running a drag radial or something like that. But a general rule is that a lower psi will give you a larger contact patch which will help you hook up and eliminate wheel hop/spin because you are putting more tire to the ground. This is why you see people running slicks at 12 psi...like i said, for most street tires i'd try around 25 psi and adjust from there. Check your tire pressure every 2-3 runs and you'll see that as your tires heat up your pressure will rise. If you have to...bleed off some more air after a few runs to keep it at a constant psi.