Just to stir the pot a bit, I'd bet that tens of thousands of dollars could be spent without even matching the efficiency that a good clutch program/tuner can presently provide. Just my opinion.
I agree 100% with your comments Dan.
It would be fun project to work on though, its separated into 2 parts, both of which are challenging and could consume $ like you wouldn't believe, and there would allways be improvements that could be made with additional development and effort.
When you are trying to control a complex system the first part of the effort is to develop a highly accurate model of that system. In the case of the drag car that would be an overall model of how the car accelerates and would require accurate submodels of all its key components. There better your model is, the more successfully you will be able to control it.
Just the tires alone are a pretty complex subsystem, you would need a model for how they react to torque and load under a wide variety of tire and track temperatures and conditions, including the axle torquing over from load. Then throw in developing a model for both how they react when they lose traction and for how tire shake occurs and exactly what happens in that situation.
Same kind of accurate models for the clutch, fuel system and engine are required, along with what happens during gear shifts.
So having all those models at your disposal (after spending probably at least a couple mil if you really wanted to do it right) now you have the second task of designing and implementing a control system to make use of the models to get the car to meet your performance goals.
This is a whole separate area of expertise that is complex and highly developed, with gains to be had by experimenting and optimizing several of the different approaches that potentially could be used.
I agree with Dan's opinion that just getting the point where you could match a current crew chief would take a lot of effort, but once you were there, additional development could take you well past that point, but at a serious cost.
Fun to think about, but not good for drag racing right now, and maybe never.
Paul T.