Can I beat a 2006 Lamborghini Gallardo Spyder?

So, my dad's friend has a 2006 Gallardo Spyder and he keeps asking if I want to race him. I'm a little nervous about this, lol. He's stock. I've got a 2003 Mach 1 Mustang with a Procharger pushing 448 HP to the wheels, should be around 520 at the crank. What are the odds I can take him out, or at least hang with him?
Added (1). The 448 rwhp I was dyno'd at was on a pretty hot 94 degree day.
Added (2). These responses are about what I was expecting. Screw it though, I'll try to get a run in with him this week - I'll update again with the results. :)
Added (3). Hmm, apparently the Spyder is 3450 pounds. Within like 20 pounds of me. I might just be able to pull this off up to the quarter mile mark or so.
Added (4). I'm familiar with weights and power of both cars, I just wasn't sure what sort of gearing the Lambo had.

Read more: Can I beat a 2006 Lamborghini Gallardo Spyder?