Horespower is how fast you hit the wall.

Torque is how far you drag the wall with you.
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HP = (Torque x RPM)/5252

What makes your car go faster is horsepower and, as the formula implies, you can get it from torque or rpm. The diesel Audi has no revs but enough torque to pull tree stumps; F1 cars have no torque (due to displacement limitations) but spin at 18,000+. Both get the job done, they just take different approaches.

It's an interesting situation. Let's say you have two cars that are identical; they even have the same HP. The only difference is that one engine gets its power from high torque with a low redline, the other from the opposite, i.e. high rpm but moderate torque. The two cars have identical HP but will feel very different to the drivers: the high torque car will launch hard off the corner but seem to fade as the straight progresses; the hi rpm driver feels bogged down at the launch but feels power building as the motor winds up.

Gearing being equal, it's a question of where you want to pass/get passed: at the beginning of the straight, or at the end?

(The "5252" is just a constant which converts from metric/SI units.)