"Horsepower" numbers like that are
very misleading, because that is a peak horspower number.
Like Bloom said, engines like these have very high "peak" horsepower ratings, but also have a very steep power curve. IE only at the very highest RPM's will the engine produce near the rated horsepower.
Which is why you will commonly hear car buffs speak of "useable horspower".
Here is a perfect example.
I own a 1995 Mustang GT 5.0 liter (V8), with a 215 horsepower rated engine. My father bought a 1997 Firebird with a 215 hp rated V6 engine. Similar size/weight cars, with what are reportedly the same horsepower.
I had to hear his crap for months about how his "little V6" was as fast as my "overated V8", and I knew he was full of it, since I had driven both cars.
Wanna bet who won when we went head to head?

Easily.....
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Vermillion
**MOL**, Men of Leisure