I have no drag strip experience, and though the physics of it aren't immediately obvious, even a quick glance at the numbers various other cars put out suggests you're right about power requirments going exponential when approaching that 10 second mark. I'm actually slightly embarrassed about even having thrown out such an absurd number.
Anyway, 1847lbs for the 5MT, and I wouldn't be surprised if the Civic's engine/transmission came out at around the same as the Insight's engine + transmission + HV battery and electronics, if not less. Motor Trend and Car & Driver both have slightly slower times (a hair above 15) using the slightly heavier Touring model, giving some credibility to sub-15 for the EX-T, but I'm really splitting hairs at this point. It looks like it would be pleasantly fast, and still put out some pretty impressive economy numbers. Anyone else care to make a guess as to what the acceleration and economy figures might be?
My reading on CVTs has been that they're generally less durable than conventional autos, and certainly less so than manuals. This is one of the things I've been most critical about of Honda's more recent lineup - it seems that 150-200k is not atypical for CVT failure - but I imagine one would last significantly longer in a car that's significantly lighter, which would make me feel better about owning one.