Ok, you meant is torque worth looking at *on the bike.*
I'm no track expert, but I'd think you'd be very interested in it for fixed-gear standing starts at the very least. I read somewhere (I think on that excellent post by Norseman on Fixed Gear Fever.com - I'll post the link tonight if someone else doesn't do it before I get home) that many shorter track events at the high levels are won or lost based on the hole-shot. Maybe you could use this graph and the associated discussions (
http://home.earthlink.net/~acoggan/misc/id6.html ) to help assess how much of your strength you're able to convert into torque. I've looked at torque a little after some of my 'jump' sets (maximal power from a slow start), and it's interesting to see, but as RDO mentioned, we roadies don't rely on torque nearly as much because we have a much better gear selection.
This probably goes without saying for an engine builder, but for the benefit of all the lurking computer-nerds out there, when you're looking at torque as measured by a PT (ie, 'hub' torque), don't forget to multiply it by the gear ratio to determine the torque at the cranks and associated pedal force.