No, a turbo's blow off valve is for when the turbine winds up to near maximum pressure, and the blow off valve releases some of the pressure before something gets broken. It sounds something like a click and the release of compressed air.

EVO's can be really fast. Most of the stock EVO's times on drag times are very close to stock SRT-6 times - generally in the low 13's. That said there are a LOT of modded EVO's posting times in the 11's. Beware of modded EVO's, but also don't be fooled by modded plain-jane Lancers.