No I just cannot agree with that. As much as a stock LS1 Fbody is faster than a stock N/A Edge Cobra a stock Terminator is faster than a stock Fbody. Fbody guys like to try and make you think otherwise but no, and especially not out on the streets.
Trust me I talk enough crap about Terminators compared to the new 5.0's, but a stock Fbody isn't faster than those either.
You might find this interesting
2001 Trans Am WS6 vs 2011 Mustang GT 5.0 - YouTube
As for the OP, I highly doubt you will win. It will be a drivers race and I just don't see you hooking better than the camaro at all. After the launch you won't be able to catch up. If you somehow launch well, you just might have a chance