i'd like to see a turbo'd up corolla scoot down the track...that ought to get from here to there fairly quick.
i dont think you'll shave much weight from removing simple items like jacks and things, maybe if you fueled up with just enough gas to get you down the track and back, that would lighten things up more than taking the rear seats out. seats dont actually weigh that much truthfully. Nitrous isnt a bad idea either, just make sure to be sensitive with it, and every time you use it remember not to push too hard, your you'll end up snips creek with no paddle. Ive had my share of Nitrous experiences, I personally didnt like it, it was a nice surge of power, but mix nitrous with 25 pounds of boost and you might run into trouble in my case.
i'd say a 98 would get down the track in about 17.5 with a trap speed of 85-90
people often mistake nitrous of having its own octane. nitrous contains no octaine, it needs gas fumes and air to burn. you get more power not because of "octane" in it, you get it because it burns hotter and cleaner.
just my $.02