I usually drive around the water and skip that part all together. While I cannot speak for how the BFG Drag radials perform, I can tell you that Nitto's rendition do not like too much heat. My time was produced in a 320 rwhp Cobra Convertable with road race style suspension. The tires dead hooked using the technique discribed in my last post @ a 4000 rpm launch.
I really can't vouch for the proper techniques or reccomend any techniques for tires like ET Streets, Sportsman I's or slicks though. All I can say is that regular street tires do not appreciate a wild burnout and will get super greasy when subjected to too much heat, thus negating any positive effect a burnout might have.
Like I said before, you may want to look into some suspension if you have not done that already. The proper suspension setup goes a long way towards any launch on any tires. Just ask the guy who purchased the old Lemon Drop how well that thing jumps.