Very possible - I used to sell the little buggers and although you needed threats of violence to get anybody to drive one thay were damn quick off the lights.
Great for shaming chavs in Corsa/Saxo/Whatever complete with big exhaust as 0-40 along the Dock Road in Liverpool they'd kick botty. People get really hacked off when overtaken by one of these (if they're a bit challenged in the lovepole department).
When the car weighs as much as pack of 20 B&H, 700cc of throbbing power does the job! Then there was the Brabus modified version which was a very nippy wee thing.
The one in the vid has had more tweaks than Jordan's nipples but guys like Brabus and the indy modifiers take pride in stuffing unfeasible amounts of power into very daft cars. I'd have a go just for a laff but would only buy one if I lived in the Smoke.
Still worth bugger all on trade in though, and taking one down the m-way is entertaining when it's blowy. Smart Roadster is even more fun as long as you're under 6'0 and 12 stone!