Rickenbacker,
I think this has a lot to do with aerodynamic efficiency of the airframe in combination with the efficiency of the prop at various speeds. I think the combination of those two factors lead to this effect. What I mean is, I think your prop/airframe combination is better at turning excess power into energy (alt or speed) at higher speeds. The result is that you can increase your energy faster when the plane is at a higher speed.

The efficiency of the engine at different altitudes is not really the issue here IMHO, although it certainly does factor into the overall equasion. Some planes get a nice boost of power when the second stage turbo kicks in at a certain altitude, so a smart pilot will factor that knowledge into the equasion as well.

Here is something for you to try, just to see the effect. This is something I was advised to do back in WB 1.01 by my amazing squad mates. Take a Pony, and set your auto-trim for speed to 325. Now, when you get a co-e enemy chasing you, just engage auto-speed and watch what happens. The Pony will out-climb many "better climbing" airplanes if it climbs at that speed. I use the same trick in the Jug. Granted, this isn't maximum "climb", as my altitude is not going to go up that fast; however, my overall energy state (altitude or Potential Energy/PE and speed or Kinetic Energy/KE combined) will increase at a higher rate than in a low speed climb.
Badboy,
Thanks for all the great work! I look forward to seeing those numbers when you get them done. The AH community thanks you!
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Lephturn - Chief Trainer
A member of The Flying Pigs
http://www.flyingpigs.com "A pig is a jolly companion, Boar, sow, barrow, or gilt --
A pig is a pal, who'll boost your morale, Though mountains may topple and tilt.
When they've blackballed, bamboozled, and burned you, When they've turned on you, Tory and Whig,
Though you may be thrown over by Tabby and Rover, You'll never go wrong with a pig, a pig,
You'll never go wrong with a pig!" -- Thomas Pynchon, "Gravity's Rainbow"