Torque is kinda' like the
amount of work that can be done while horsepower is more like how
fast the work can be done. I'm sure you can find the actual equation for torque and horsepower but that doesn't look like what you're asking. Torque can be made at low RPMs (like locomotive engines - max' RPMs on some are like 1050 [
http://www.getransportation.com/na/en/locofacts.html]) but you can change the torque curve by manipulating many other components on the engine, like camshafts, heads, etc. If you are wondering if torque will make a performance car better, I don't know if there's a good answer to that. I mean, diesels are known for making torque, but most of the time be low on power. However, people like Gale Banks are investing heavily in diesel power and are making tremendous torque and horsepower. If you're looking to see which you want more, torque or horsepower, you'll probably find it depends on the disipline you're working under. Torque will kick you off the line in drag racing, however, by mid-track, if you don't have horsepower, you'll stop accelerating. However, if you don't have torque, you're going to come off the line soft, get a low ET, but trap a relatively high MPH because by the time your at the end of the track, horsepower is accelerating you, not torque.
It's my understanding you want a good balance, either way. Without torque, accelerating from slower speeds is going to hurt you some, but you'll have a good top speed. Without power, you'll be able to squirt out of corners really well, but be limited on the straights.
I know there are many here who can elaborate on this a lot better and probably more accurately.