Hell he was just breakin em in,
I'd allmost bet they were damn near brand new tires the way they piled the rubber at first. He also had some kind of ignitors in the exhaust or it never would have caught fire like that. It takes a lot more HP then he had to do that on its own IMO. Damn nice 64 though.
Heres a good example of a real burnout.
[ame="http://www.youtube.com/watch?v=AZucxOwqH-g"]BLOHSV Flaming Finals burnout at The Ultimate Burnout Challenge 2011 - YouTube[/ame]