There are probably hundreds of calculators online that estimate your quarter mile times based on weight, horsepower, and drivetrain.
This is can be helpful when you plan your first trip to the track to get an idea of what to expect. Different times require different safety equipment and knowing the ballpark of what you will run can help repair you.
Of course the other fun thing about it, is comparing your car to other cars without leaving your chair. You can see how much power it would take to overcome your friend's lighter car for example.
Horsepower and E.T. calculator