Interesting! I'm very new to running 1/4 mile (have made about 15 passes in 5 trips over a few years).I agree about the mph, but I would rephrase. Mph will be more indicative of what it CAN do, with a more drag oriented setup. Poor gearing and poor tires will make the E.T. poor, mph will tell you more about the actual power.
Best time my car did was 12.80 sec at 108 mph. I've consistently run high 12's to 13.0 and mph between 103-112. Funny my fastest trap speed was not my fastest ETA. Probably makes sense to those with experience. Nitto 555R drag radials. Sea level. 90F outside temp in August northern California, low humidity. Similar times different track, sea level, 75F outside temp September, low humidity.
Just based on the above, is it possible to estimate if the car is capable of improved ETA (say with a better driver or better tires)?