Torque and HP are synonymous with each other. You can't have HP without torque, so I don't get why anyone would say one is more important than the other.
But it's true, a peak power number means nothing. The Vortech supercharged Civic Si at 14psi putting down 320whp could only pull a 13.9 in the 1/4. If someone actually made a calculator that attempted to covert a peak HP number into 1/4 mile ET using just vehicle weight I would seriously laugh my ass off. Powerband shape as well as gearing in relation to that powerband are the biggest factors to consider. I beat a 220whp turbo Integra GS-R with my 168whp Type R at the strip. My ET was better but his trap speed was higher. Tuning for ultimate peak power will only win you top speed contests, on a real track it could make you fall flat on your face.