Horsepower = (Torque x RPM)/5252
You pay your money and you take your choice. I'm currently building two very different engines, one under each school of thought (a twin turbo smallblock and a MPFI long-ram 440). Torque is a lot of fun, but unless you're going to shift twice in the process, the car with more HP will always win to 60MPH, all else being equal.
Today's "torquey American V8s", built as the engineers see fit:
Dodge Challenger Hellcat: 707HP, 650lb/ft torque
Mustang GT350: 526HP, 429lb/ft torque
Camaro Z/28: 505HP, 481lb/ft torque
2014 Matco Top Fuel dragster: 10,000+HP, 7,400lb/ft torque
Of most importance? The Mustang is faster to 60MPH than the Z/28 by 0.3 seconds (4.1 v. 4.4, per Motor Trend) despite a glaring torque deficit.