From my corner, Dick - I *think* that maybe what we lack is a theoretical basis on which we might base a process that more effectively considers torque. My admittedly lacking understanding is that "horsepower" is in most cases a derived value for work, that results from math applied to what is actually a torque measurement taken by the mechanical bits of a dyno.
Further, if one buys the old saw that "horsepower sells engines, torque wins races," AND we understand that some of the issues we deal with as we look at the "formula" behind the process (e.g., how the torqueless wonders struggle compared to where they "should be..."
...then maybe we're missing a bet by ignoring torque. Again - if some smart someone could say, "Here's what really matters, and here's how torque/HP relate to one another," and maybe help with some peripheral issues like the influence of gearing, I have a little hope that we might be able to come up with adjustments to the math that improves the entire deal.
K