If you want to beat this guy, don't drag race him, road race him. That is the only way you can beat him, by out driving him.
You can also make it a long distance race, more than a 1/4 mile.
My friend had a 95 stang with the 5L. I couldn't beat him the 1/4 mile, so we raced long distance. It ended up being who wanted it more. On a 30 mile trip, we split 2-2. Then we did the 1/8 mile, where he beat me by the front fender. That was to just see how the teg would hold up vs his stang. He was impressed so he bought his wife one.
If he does drive like an old lady, you should smoke him! Otherwise, forget about it!