Farm Truck has at least 1500 hp, probably closer to 2000 if he really pushes the nitrous oxide. It has an aftermarket lightweight front suspension, and other tricks to help lighten it, although still heavy by drag racing standards.
*any* Lamborghini would not stand a chance. I have not seen official numbers, but I would estimate Farm Truck can run deep into the 8's.
If you watch Street Outlaws, the top cars are running into the low 7's or high 6 second range. Farm Truck is not one of those, but it is also street driven (limited) and is still very respectable.