A high horsepowered Ford Mustang (as if there was another one) does a wheelie at a drag strip. The impressive or incredibly stupid fact is that the driver stays on the throttle until the car flips.
The proper thing to do IS to stay on the throttle and feather it out. Other wise the car will drop hard and either break the frame or destroy the oil and trans pan. when that happens there goes the engine and transmission thats worth a combined $25K or more. ;-)