Different design for different applications. Just because it has a higher rated peak TQ doesn't mean it would be faster with that setup. Turbo size effects where the engine makes power, how long it takes to spool the turbos, etc etc etc. Cam and head changes can effect this as well.
The turbos are not really holding the car back, this is evident by what companies like LMS can do with just a tune. Ford rates the car at 350 FT/LBs from 1500-5000 RPM, unlike the truck which is simply rated at 420 LB/FT at 2500 RPM. The SHO is using the wonders of modern fuel injection control to limit the torque on purpose.
I dont know how the F-150 feels, but the nicest part of the 3.5 EB in the SHO (at least in my opinion) is virtually zero detectable turbo lag. The worst part about most turbo setups is the lag between putting your foot down and getting power. The SHO seems to make power everywhere in the band, and the bottom end TQ is super nice for accelerating without having to flog the engine to redline.