well i guess you answer is:
you will need 350+ HP motor (built however you wish, suggestions are quoted and linked to above), LSD, slicks, good driving techniqie & lots and lots of practice.
you want someone to actually compose a list of points for you form the various posts??? list different parts combos and discibe how to launch the car, tire pressures & size & brand, suspension setups, weight reduction tips, chassis prep, clutch combo and final drive ratios???
c'mon man, that would be too easy

... i say start by searching all of NICO for 12 sec 240's and see what combos they are suing, check fresh alloy forums and see what the SR boys are doing, its all going to be the same sort of turbo, lsd forged internals combos,
all cars are different, i drove my buddies 450+hp SR S14 and couldnt do better than low 13's on the gtech cause i didnt know how to launch the car and was spinning tires on the launch, and 1-2 & 2-3 gear shifts, but he runs 11's with the same car, same settings, perfect..
its about the power to weight ratio, tire suspension combo and a hell allot of driver skill and practice.
http://www.bezman.com/james003.mpg
garage paddy has a 700+whp CA18 that does 10'shttp://
www.paddy.co.jp/democar/index.html
use alstvista babefish to translate, there are also many post about it here too...