I depends on the operator and whether they chose to use the correct method to run the car. Standard Shootout mode must be carried out in 3rd gear and with the tyres at 50psi (though the tyre pressure isn't as important as the gear used).

Personally, I wouldn't use the engine dyno figure as the benchmark as engine dyno's aren't the be-all-and-end-all of measuring power. In theory, yes, but in practise, not so.