Why an Iowa power plant would not make a fast Formula 1 car

How fast could a Formula 1 car go with an Iowa-class battleship power plant?

The machinery's mass and operating characteristics prevent a meaningful speed figure, even with magically durable shafts and wheels.

The question grants magically durable shafts and wheels, but the battleship plant remains enormously heavy. Marine machinery is built for a different operating speed from a Formula 1 drivetrain. Its power rating alone therefore cannot produce a meaningful car-speed answer. No numerical speed is offered.