The way gunnery is calculated in AH, which combines kinetic and chemical (HE) energy, shortchanges the shells with higer HE content. Because they are combined (and the calculation weighted towards kinetic hitting power), shells with high HE content (like the MG151/20) have their chemical energy reduced as the shell travels, which is wrong, damage from an HE shell should reduce little, if at all, as it travels. Shells that depended on chemical energy to get the job done do not get their proper hitting power out past D200.
Having said that, I still think the axis planes are perfectly capable of holding their own in this set.