record for the 'ring for an S2000 was (last I heard) 8 minutes 39 seconds.

to put that into perspective here are some records for other marks...

VW Polo ('89 MY, 45 HP) - 13 min. 10 sec.
Ford Focus 1.8 Diesel Estate - 11 min. 45 sec.
Toyota MR2 - 9 min. 30 sec.
BMW X5 - 9 min. 20 sec.
Lotus Esprit Turbo S4 - 8 min. 46 sec.
Audi S4 - 8 min. 42 sec.
Chevrolet Corvette ('98 MY, 344 HP) - 8 min. 40 sec.
Acura NSX - 8 min. 38 sec.
Porsche Boxster S - 8 min. 32 sec.
BMW M3 (euro model, 321 HP) - 8 min. 35 sec.
BMW M Coupe (euro model, 321 HP) - 8 min. 22 sec.
Ferrari F355 - 8 min. 18 sec.
Porsche 993 Turbo (euro model, 430 HP) - 8 min. 12 sec.
Chrysler Viper GTS - 8 min. 10 sec.
Ferrari 360 - 8 min. 09 sec.
Porsche 996 GT3 - 8 min. 03 sec.
Porsche 996 Turbo - 7 min. 56 sec.

Cool thing is that the NSX is only 1 second faster (and the 'vette is slower).

But from this you can see that the 360 driver was clearly inferior (as opposed to the car being inferior). If you were equally competant drivers he should have beat you by a bit more than 45 seconds (at an S2000 lap time of 13 minutes).