hp=torquexrpm/5252

Let's try to shed some light on this subject instead. A dynamometer only measures torque, which is only the ability to do work. Gearing is a way to gain mechanical advantage, so even a 1/4 horse motor can make 500ft lbs with low enough gearing. The rest is a math equation which is the amount of work in a time period(horsepower). So higher rpm torque peak= more horsepower. If I was wrong then those nascar engines would run like turds.
I don't really agree with the recovery thing. Say a 440 is shifting into second cause its done by 6k rpm. The 360 is still gonna be in 1st up to 7k rpm and only drops down to 5.5k on the shift, which the horsepower is all gonna come in the same due to the extra rpm. An optimum drag car only uses what 2k rpm of its powerband?
Can a 440 with 500 hp spin just as high? yes! But its torque drops off much faster at that level, therefore doing more harm then good.
Also Ive had a 500hp smallblock, a few of them. And I know I was definitely going just as quick as the big blocks at that level.