First off, remember that since the ET Streets don't come any taller than 16", some new rims are required. Also, most off us have had to do a little grinding on the arm and ball joint to keep from scraping on the inside, so keep that in mind.
There is always a danger, I think of damage to the shaft or half shafts if you launch on sticky tires at high RPM's. I suspect that danger is lower on a stock Z as opposed to a highly modded Z, but I wouldn't say there wasn't any risk at all.
Have you considered going the drag radial route? I got real good hookup before my last mods on BFG's and some of the guys like Powershifter and Ranger are getting fantastic 60' times.
