Yes, it performs well and will eat through tires nicely.
Car and Driver, the magazine that tested the GTR running to 60 in 3.3 seconds, also agrees that the car's horsepower rating is probably an underestimate. See the letters to the editor section of this month's issue.
The car's trap speed at the end of the quarter mile says alot about how much work it has physically done and therefore it says a lot about the power as well. Here's a link to one of those ball park figure quarter mile calculators. Such calculators are far from perfect and don't take many variables into account but they do a fairly decent job regardless.
http://www.tunercalcs.com/hp-from-qu...rap-speed.html
The reason the straightline performance of the GTR is ever so fascinating is because it's obvious that the advertised power figure is wrong no matter how much traction magic and "more efficient horsepower distrubution" the computer dishes out.