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Quite probably it applies the maximum torque immediately with the release of the brakes. It'll probably shave a couple of tens of a second from 0-60 speed.
Is Launch Mode just for P cars?
Even more specific, is it just for PD, or will it be available on the RWD P?
I would not be surprised to see .2 improvement. There is a significant torque build up. My wife and kids as well as myself can feel a noticeable difference. No way to actually measure other than power tools. Haven't tried that yet