Some planes with low ENY numbers aren't superduper.
Some planes with high ENY numbers are monsters.
P-51D vs 109 K-4 for example.
Yup, if I fight a co-E 51D in my K4, it's usually a foregone conclusion. A WEP K4 is also faster than a WEP Pony at all altitudes. It also climbs better. And turns better. And accelerates better.
But: Pony retains E better, has better high speed handling, and has much better visibility.
That said, I can typically use Pony's E retention against it, just do a throttle off spiral dive and he will overshoot you, at which point you can throttle up and regain your lost E while in the saddle.