Those rpm's are off the top of my head as an example, point being the 367 should need to operate at a higher rpm's and should be accounted for. I'm not trying to make an argument for the 367 being better but should be compare more fairly, and done that way the difference are not as night and day.
Now if we we're comparing for a particular application then you'd use those parameters, but why compare them as if the 367 is gonna automatically be poorly geared. To me when we compare them in a general sense should be assume under optimized circumstances, but if for a particular application then yes use those parameters.
Here's easier example to show what I'm talking about, 400 vs 302 Ford. 400 Green 302 Red & Blue.
The both basically make same peak hp 264-267 @ 600 rpm's apart 4100 vs 4700 rpm.
150 hp about 700 rpm's apart, same with 200 hp, about 900 rpm's apart.
Above peak hp 302 basically making peak power still about 700 rpm's (5,400 rpm's) after peak.
So obviously the 302 is gonna want to operate 600-900 rpm's higher, to make the most out each the 302 would need higher stall and deeper gears so at any given mph the 302 will be operating at these higher rpm's so Ideally both would be putting similar hp to the ground.
But most see that 200 lbs-ft difference and both making practically same peak hp and figure the 302 is a goner. Yes if you ran less gear than the 302 needs would be harder to compete.
When you gear both for optimal performance that 200 lbs-ft will shrink by time you get to the torque to the ground.
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