It's starting to look like torque is much more useable in real life situations rather than BHP.
Bang on.
When you accelerate and the car pushes you in to the seat thats torque, when you look down and go "jeez Im doing XXX mph" thats power.
So if you want to lug a weight around (like a caravan for example), you want lots of torque, the lower down the rev range this is will make it more usable.
As someone above says power (bhp) is equal to torque (lb/ft) at 5252rpm for a four stroke engine.
Normally road cars have peak torque just before this, peak power after it.
You touched on F1 cars and high revving engines. If you want to make horsepower you select a large bore (the diameter of the cylinders in the engine).
If you wanted a torquey engine you'd use a longer stroke (the distance the piston travels up and down in the cylinder).
An F1 engine will have a small stroke, but a large bore. I just found specs for an F1 engine from about 10 years ago, 3.0 litre V10 - stroke is 46mm, but bore is 91mm. This is known as "over square"
Chrysler had a 6 cylinder engine known as the slant 6, 3.7 litre, it had a 86mm bore but a 105mm stroke. This is known as "under square"
Sports bike engines are typically over square. I believe most if not all piston aircraft engines are under square.
over square = high revving but low torque
under square = restricted rev range but high torque.
You do get "square" engines where bore and stroke are equal, this is often a good compromise. Virtually all 2.0 petrol Vauxhall engines are square (86x86mm).