A diagonal link can work on a suspended drag car, but a wishbone will always work better. But we need to remember with a drag car, you have both a straight and level surface from the starting line to the finish line. I've even seen drag cars bend diagonal links, if there's too much body squat.
With a street-driven car, a diagonal link must be able to deal with both lateral and vertical loading. No matter if you use a heim joint or a 4 bar bushing, you cannot provide maximum strength and range in both planes. If you step the car up over a curb with the front wheels turned, you are loading the ends laterally, but when one rear tire goes over the curb before the other, you are now loading the ends vertically, as well. About the only certainty with a diagonal link in a street car is the fact that it will break. You still get all the mystery of when and where, but you know it will break.
Watts links are the hot lick.