Should I build the vehicle I really want and run for time only?
Oh, God No! Heck you can run for time only down any side street. It's fun for about 3 seconds.
Build to a class and set a record. Put your name in the record book. Man is it fun.
Don't attempt anything outside the rules, build strictly to the rule book, as if that were possible.
You are going to have to ask lots of questions to get clarification. It's a tough deal.
How fast do I want to go? Ideally I would like to get to 200 but I don't know if that is even a possibility.
With a double A Blown motor? Hell, anybody could shove a (no offense here) brick 200 with that kind of horsepower.
I think you should be looking at 275 mph.
The rules are fuzzy and you are thinking in the right direction. But before you commit hardware you should submit your plans for approval. Certainly shoot them here for our opinion, and once that is refined I would call Ed Whiteley the truck class chairman.
My take on it is that it should basically still look like a truck, but there is a lot of area for creative thinking.