Norwalk used to do a king of the streets like king of columbus. the requirements were the car had to be street legal lights, horn, wipers, and tires and the car had to run a 30 mile loop on a single tank of gas and he same tune it ran on the track. Not sure if they still do that or not but that was the only requirements tha i can remember.
I say if both cars meet that then everything is good. I would also add insted of a run through hockin hills you guys go to a autox event and how ever has the best time for the day wins. then the same for the drags whether it be norwalk or trails or where ever. If its a Tie then you both decide on a third event for the tie breaker. Also loser has to pay for the other persons gas and etery fee for the 2 or 3 events plus whatever other wager you guys decide on.