Yes, a solid burnout is good, but roasting the tires and making a big smoke show is completely useless. Street tires are not meant to operate under high temperatures because they have to provide as much traction as possible with as little heat in them as possible for safe use in normal driving. Spinning them up for a couple seconds will put a little temperature in them that will help a little bit, but sitting there for anything more than 5 seconds is simply killing tread life...
That 60' time is really good especially for street tires. Probably a tenth quicker than I could ever pull off on stockers. Get some new tires and play with your shift points, 5k isnt bad but you might go a hint faster shifting a couple hundred RPM's lower. Seems like your top end is a little soft on power. Get a
K&N, set the timing, set the TPS voltage, do a tune up and some generic things like fuel injector cleaner and what not to make sure you are flowing as much fuel and air as you can and watch a few tenths fall off that time. Also how much gas was in the tank and did you have any heavy stereo equipment in the car? I went 14.4@97 in a bone stock 2.73 geared 91 LX that only had flowmasters.