Yes.
A simple bolt-on 5.0 with slicks/skinnies will run into the 11's with a good driver. I don't see a bolt-on mach beating a well driven modded coyote. I CAN see a modded Mach 1 edging out a stock 5.0, but, nothing dramatic like multiple car lengths or a tenth or so quicker at the track.
I know this comments going to make Zyborg upset again (especially since I don't have a video for him) but my experience has been that the 5.0 slightly edges out the mach but at the end of the day it IS a drivers race, they are much closer than you might think.