It is still a pretty close contest, though. The March 2011 edition of Motor Cyclist Magazine does a comparo run between a Duc 1198S and a Ferrari 458 Italia. They were running at Willow, and the Duc beat the Ferrari in both the drags and the track lap times. But the bike/ car argument is pretty murky, since their strengths are at such different spectrums.
For reference, the Ferrari recorded a 3 second flat 0-60, whereas the Duc managed a 2.7. Lap times were close, too with the Ferrari at 1.22.32, and the Ducati at 1.19.3. As you say, prices ranged widely from $21,795 MSRP for the Ducati, to $287,654 for the Ferrari! Obviously, both are production street machines. Steve Rapp ran the Ducati, and Justin Bell drove the Ferrari, so they were not amateurs in the respective areas.
Like I said before, though. Since the applications of each are so varied, a head to head is not really an argueable point. I just think it is really cool to see real footage of Freddy tearing it up!! ;D
Oh, but cool video. There is no question that an F1 car will smoke a motorcycle in a flat out race! The bike simply does not stick well enough!