I tried a mild 3rd gear launch in 2wd and the FE slipped for the first five feet, then finally grabbed enough to spin the rears and then I let off.
Had I been in 4x4 with 35-3700 rpm built up, it would have glazed the clutch for sure and probably would not have made it down the track at all. I'm glad I tried a mild 3rd gear launch on the street before I went to the track that night, otherwise I'd be looking for a new clutch right now.
2nd gear launches is where it's at for me with 3.55 gears and 285= 32.8" tall tires.
I agree with everyone about how violently the truck launches when you spin the motor up to 3700 rpm and 7-8 psi boost. It would leave so hard that I was having lots of trouble with front axle hop. I actually had to add some air so that I could get a little more wheel spin, otherwise it was like a pogo stick.
I don't race my truck anymore, I'm sure it will break sooner or later with that 3700 rpm wicked launch crap!