1. The new BMW M5 has a 500 hp V10 just like the Gallardo and is a big leap forward from the previous generation. It’s not surprising that it has comparable acceleration. Gallardo is a little lighter and has better torque at lower rpm, and much better handling. See the EVO article that compares them:
Lamborghini VS. M5 (Evo Article)
"The M5 packs an engine every bit the equal of the Lamborghini's, but even M Power's spectacular fireworks can't disguise the fact that while the Gallardo was born great the M5 has had greatness thrust upon it" (form the Article). The new Gallardo with 519 hp should put a more distance between them.
2. As others have pointed out, don’t take racing videos as your only comparisons for cars; a lot depends on the driver. I think I know the video you are talking about – the Japanese one? The cars look modified to me – a Gallardo doesn’t come with a spoiler like that; who knows what other mods were done to the cars? But there is no denying, the F430 is faster than the 500 hp Gallardo. I haven’t seen a comparison between a F430 coupe and 519 hp Gallardo coupe yet, but I suspect the F430 still has the edge. Year to year comparison’s are fickle, though. Remember when the Gallardo came out it was much faster than the F360… these comparisons can go either way at any given year.
3. Despite Lamborghini’s claims, I think that the 580 hp Murcielago has substantially faster acceleration than the Gallardo. I haven’t driven either one, though, so I can’t say for sure. Other people will correct me if I am wrong. The Murcielago did the ¼ mile in 11.52 seconds and 11.56 seconds at over 123 mph with Auto Italia and Automobilismo in Italy (manual transmission, not F1), and I’ve never seen the Gallardo put up numbers like that.
3. The Murcielago is faster than the F430 in acceleration. F430 is not far behind in the ¼ mile thanks to it’s F1 transmission and (Euro-spec only) launch control system: an incredible 11.7 seconds at 123 mph (MT, R&T, and C&D tested). An F1 F430 without this launch control does about 12.0 seconds (MT). The F430 probably loses much more ground at higher speeds, though – the Lamborghini V12s have always shined in high speed acceleration (it’s exactly the same comparison between a 492 hp Diablo and a 360 Modena). An F430 may be better on a track, but I don’t know. The LP640 puts substantial difference between them.
If anyone has any corrections, please say.