It helps when you're showing off burning down your tires but a street car doesn't need a line lock or a transbrake.
Line lock is used to lock the front brakes to aid in a waterbox burnout.
Transbrake allows up to the converter's stall speed launches.
Cars with manual transmissions usually use the line lock to hold themselves on the starting line. With your foot on the clutch and the throttle, it's hard to keep the car from accidentally rolling through the beams if your foot is off the brake.
Here, watch this video. My line lock is mounted on the dash when this was shot. You can see me doing the burnout using the line lock. Just before I active the line lock, I'm pushing hard on the brakes. As soon as it's activated, I release the brake pedal which releases the rear brake pressure. Although you can't see me using the transbrake button on the steering wheel, you can see the results of using it by watching the tach.
http://members.streetfire.net/video/...008_168661.htm