i hate to burst your bubble, but the volcano cannot do 60mph.
if thats what is said on the ad from which you bought it, thats just a bad seller trying to sell more.
the volcano is good for 30-40 MPH. it would have to have a much larger motor to do 60mph.

its one of the downsides to how redcat does biz. all the selling is done by resellers. they are supposed to use the facts/pics/specs redcat provides.
on the s30 line, redcat does not state a top speed. so, some greedy resellers just put that crazy high top speed so they can sell more. but its BS.

the 2 should be fairly close in a race. assuming both have a good tune, the tmaxx will be faster on the top end. but both will take off pretty evenly. the volcano has a smaller motor, but its much lighter as well.
basically, they will both take off and be very even, untill the tmaxx hits second gear and pulls away.

also, the volcano wont hit top speed unless is on a smooth surface. the tmaxx with more ground clearance can go faster on rough terrain.