Roadblock,
You are confusing things here.
In the Piper Arrow you have RPM and Manifold Pressure.
Aces High has the same setup.
RPM is propeller RPM (and engine RPM on a direct drive engine)
Manifold pressure is Power
Prop lever controls RPM.
Throttle controls Manifold Pressure (or boost for the British)
It works exactly the same in AH as it does in real life (except for the possibility of overboosting and blowing jugs off the engine)
No, I know the difference. Perhaps I wasn't clear in my original post. Try this (I can't test it myself at work to be absolutely certain, but I'm 90% sure these are the steps):
Take off in a 190D, climb up to 15k-20K feet.
Throttle (MP) and RPM (propeller) both to full.
Let the plane accelerate to 390+ TAS.
Now, open the E6B and slowly dial back the propeller control to minimum. Note that the RPM doesn't change, nor does your airspeed, but the fuel burn drops significantly.
I'm asking "is this supposed to happen"? This is certainly a big no no from what I've been taught (high MP settings with low RPM), so I've never tried in an actual airplane and thus I don't know what actually happens.