I normally wouldnt recommend this technique for a fast launch but on a 172 it seems to give a consistent (if not that fast!) start - let it idle, go off the line as if it was your driving test then as soon as youre rolling floor it. Majority of cars will bog down with this sort of thing, the classic quarter miling method is to launch over the first 60ft just on the verge of breaking into wheelspin. If you hear a quick chirp from the tyres as you go, youve got it just right.
Eg. on a 16v, hold at around 5000-6000 revs, on the light let the clutch out smooth as you can to keep the revs up and the tyres from spinning. Let it out too quick and you wheelspin. Let it out too slow and not enough throttle and it will bog down and youre out of the power band. You want it so that as soon as the clutch is fully out and the throttle nailed, youre already in the middle of the power band and looking to snatch the next cog in a couple of seconds.