Quick read:
http://www.vettenet.org/torquehp.html
Now, I will not make the case for or against the hp/torque argument. That's why I phrased it the way I did. But the way I've understood it is thus: torque is the thing that is measured on the dyno. The torque is then plugged into a formula to determine hp. The dyno does not measure HP. and the dyno measures more than just how quickly you get off the line. Torque I believe is rotational force.
http://www.vettenet.org/torquehp.html
Now, I will not make the case for or against the hp/torque argument. That's why I phrased it the way I did. But the way I've understood it is thus: torque is the thing that is measured on the dyno. The torque is then plugged into a formula to determine hp. The dyno does not measure HP. and the dyno measures more than just how quickly you get off the line. Torque I believe is rotational force.