I have recenty started buying a bunch of this stuff (1/24 scale). It is setup just like real drag racing at the track. Bracket/index/heads up classes. you can buy cars already built or build your own. Bunch of differant chassis/motor/body combonations.
http://www.speedy-o-raceway.com/
average car runs about 45-50mph in 55ft and 1.1xx seconds. some of the fastest i have seen online run .5xx at over 100mph. a friend had a car there this weekend that went .749@73mph the sme guy has been .701@103mph with a hardbody car. (a body off a model car you buy at Kmart, not lexan)
My fastest car has been 1.021@48mph with a $15 motor. for this scale of drag racing just move the decimal point one spot to the right. so I ran a 10.21@48mph
I have only been doing this for 3 weeks now, $3 to enter a car into a race. Usually you can enter up to 10 cars, depends on how many people are there.
here are a few car I have bought off of ebay.
http://i.ebayimg.com/t/07-SHELBY-GT500-DRAG-SLOT-CAR-/00/s/NzY4WDEwMjQ=/$(KGrHqIOKpsE6TY8FhwyBOtDVQq3oQ~~60_3.JPG
http://i.ebayimg.com/t/34-Rat-Rod-Altered-/00/s/NzY4WDEwMjQ=/$(KGrHqV,!g0E6ZCwQ)wpBOsdlp5V9g~~60_3.JPG
the US Marines is the body only, I still need to get a chassis/motor for it.
http://i.ebayimg.com/t/JDS-promord-prostock-Styrene-Body-Drag-Car-1-24-/00/s/NjUzWDE1MjA=/$(KGrHqMOKiEE6W!tEp8,BOvZeK030g~~60_12.JPG
http://i.ebayimg.com/t/Custom-Painted-Ford-Mustang-/00/s/MTE5NVgxNjAw/$(KGrHqR,!lgE5uuTHB48BOueZbyk8Q~~60_12.JPG
http://i.ebayimg.com/t/Wolf-Foxbody-Mustang-/00/s/NzY0WDEwMjQ=/$(KGrHqIOKiYE6Lc9Or4wBOu8rq20lg~~60_12.JPG
http://i.ebayimg.com/t/93-Cobra-Foxbody-Mustang-/00/s/NzY0WDEwMjQ=/$(KGrHqQOKjwE6ngy7(uKBOue5FyH1!~~60_12.JPG