The drop in manifold vacuum with throttle application is normal. The harder you work the engine, the closer it moves to 0" hg. I wouldn't think the pedal should go stiff that quickly though.
My understanding of the potential hazard of starting a burnout in 1st is that if you back out of the throttle, the shock generated may scatter the sprag. I may be way off as I'm still getting my feet wet with how a TorqueFlite works.