With 118 mph trap speed your "Target ET" should be 11.20-11.40
normally when trans brake is used in a situation such as your's(not able to hold more than 7lbs) you will see that just leaving at 15 will get you the '60 foot time of 1.55-1.60, assuming that you have at least a 3.42 with 28" tall slicks, your converter should "Finish Stall" at 15-18 lbs with 212-218 camshaft should be NO higher than 4000-4200 rpm, any rpm higher is of complete waste of torque, use some sort of control of boost during launch so that it allows you to be W.O.T and 15 lbs at launch then resumes normal boost during run, once you get accustomed to leaving consistantly you may look into looser front shock (80/20) and stiffer rear (30/70-20/80) and adjusting air pressures for best "Pattern". As long as you don't get stuck holding boost any longer than necessary at the line and have a decent cooler on her, she wont complain one bit, whatever you do, do not allow tires to spin off the line-then hook, snapped axle will be result. grow with the use, dont think you can "feather" the throttle to control launch boost- set it and forget about it.
good luck to you, keep us posted on your progress.
Kevin.
ps. Please have engine restraint installed correctly, you'll get false knock/broken left motor mount if not. KLM.