Hp and E.T. 'S
I tend to live by the age old adage of "its a 16 second car until I see otherwise"
You are correct...tons of variables in quarter mile times vs engine hp. A 1000hp engine in a car with a mismatched converter and 323 gears runs 12's. Where a 500 hp engine in a properly setup car can click 9's.
I further agree with you that hp is just that days configuration, and that days weather, and that specific dyno. Not uncommon for a dyno to vary hp from machine to machine, just like weather can vary a cars et by large numbers.
Idk if I added anything to the post, as its a statement, not a question. But I agree that sometimes chasing numbers gets people caught up in things well outside the realm of necessity, and sometimes even reality.